What does the Swiss National Bank's 'emergency brake' mean for the crypto world?

Friends, the Swiss National Bank has just announced: maintaining the key interest rate at 0%, pausing the continuous interest rate cuts.

This is the first time since the aggressive rate cuts began in 2024 that they have chosen to hold steady.

Many might think this is just 'news from Europe' and has nothing to do with the crypto world.

But you should know that interest rates are the steering wheel of global capital.

1️⃣ Why did Switzerland suddenly hit the brakes?

The Swiss National Bank had previously slashed interest rates to 0% in one go, and the liquidity squeezed from the market is nearly bottomed out.

The U.S. has imposed tariffs on exports to Switzerland, putting pressure on the economy; inflation is showing some signs, and continuing to inject liquidity would increase risks. In simple terms: Switzerland feels it can’t keep spending money, it has to stabilize a bit.

2️⃣ Signals for global capital

There is a subtle logic behind this: the Federal Reserve has just released expectations for interest rate cuts, and the market is excited; then Switzerland suddenly hits the brakes, meaning that not all countries will continue to inject liquidity.

What will this cause? The flow of global capital will become fragmented.

Some markets will face a flood of liquidity, while others will become tight due to caution.

3️⃣ Impact on the crypto world

The crypto world is like a large water tank; when there’s more water, it rises; when there’s less, it falls.

Switzerland's brake directly tells us: we cannot only focus on the 'good news' of the Federal Reserve's interest rate cuts, we need to look at the overall global environment; once liquidity becomes fragmented, the volatility in the crypto world will be greater, first benefiting, then reshuffling.

Especially recently, ETH and BTC have seen increased volatility, and many are shouting for 'bottom fishing',

but the truly smart money is watching the macro capital situation.

4️⃣ Operational advice

Do not chase the rise: when market sentiment heats up, it rushes up, but under capital fragmentation, the risk of false breakouts is very high.

ETH: resistance at 4,210, support in the 4,050–4,080 range; if it breaks, look at 3,800.

Control your positions, don’t go all in: this is a game of chances, not a one-sided trend.

5️⃣ A word for retail investors

Retail investors lose money not because they don’t understand K-lines, but because they don’t consider the larger environment.

Interest rates and liquidity are the real underlying logic that determines the market situation.

The Swiss National Bank's braking action is a reminder:

The road for crypto will not be smooth sailing; those who want to make money must learn to position themselves according to the trend, rather than gambling with their lives. #加密市场回调