#以太坊行情技术解读 The Bank of Japan's new round of rate hikes is imminent, but the crypto market has not follow-through with a correction. Instead, it continues its strong bull market—this stands in stark contrast to the single-week 20% decline triggered by rate hike expectations half a year ago.

The bull market remains stable thanks to three pillars: First, Japanese government bond yields have already priced in the rate hike expectations, and the ongoing upward curve over the past two months has been absorbed; second, the liquidity abundant environment brought about by the Federal Reserve's rate cut cycle continues, with institutional funds flowing into the crypto market for asset allocation; third, the correlation between crypto assets and traditional finance has significantly decreased, highlighting the self-driving power of this ecosystem.

Even if Japan's interest rates eventually rise to 1.25%, real interest rates will still be negative, which underscores the appeal of digital assets like $BTC and $ETH as "digital gold" for allocation. Short-term market volatility has instead sharpened participants' psychological expectations, and the crypto industry’s efforts to build financial infrastructure for the next decade provide the confidence for this bull cycle to continue strengthening.

From a technical perspective, Ethereum is currently in a good position, with short-term upside potential targeting gains of a hundred basis points. Those interested in participating should closely observe the movements of this asset.