The Swiss National Bank suddenly cut interest rates yesterday, which is a black swan for the financial market! The Federal Reserve's interest rate meeting was originally dovish, but it became hawkish because the Swiss National Bank was more dovish! In this way, expectations for the financial market have changed from doves to hawks! The US dollar started to rise sharply yesterday! The rapid return of global capital to the United States has led to increased expectations for the appreciation of the U.S. dollar! The Swiss interest rate cut has the following effects: The Swiss interest rate cut indirectly shows that the U.S. economy is doing well! Because if the economy is good, it can support high interest rates! It was precisely because something might go wrong that we were forced to cut interest rates! Then Switzerland, which has the world's largest pension insurance funds, will quickly evacuate to find a country with safe and stable economic development! In this way, the United States has become the first choice of all European and American countries! Once the funds flow to the United States, they will provide long-term development funds for the U.S. economy! The U.S. economy will be more resilient! We can continue to maintain high interest rates! Such a high interest rate environment is not good for banks! The higher the interest rate, the longer it lasts and the banks are forced to repay their debts! This will sell off risky assets to pay off debt! The recent banking crisis in the New York area of ​​the United States is still spreading quietly, and Germany has been affected! In addition, the United States has suspended BTFP, a pool that injects water into the financial market, on March 11! Therefore, the financial market will face further liquidity pressure. Based on the above analysis, it can be seen that the financial market is changing rapidly and risks are everywhere! The Federal Reserve's interest rate meeting unexpectedly turned from dove to hawk due to the Swiss National Bank's interest rate cut, which will have an adverse impact on the risk asset Bitcoin Gold in late March. I hope everyone will do a good job in risk control at all times!