#以太坊行情解读 $ETH $SUI $UNI

The offshore yuan rose to 7.048, with the central bank's midpoint rate set at 7.0656, reaching a recent high. Behind this is a deep adjustment in the global liquidity landscape - the Federal Reserve's 75 basis point rate cut and the dollar index falling below 99, as global capital is being reallocated.

The narrowing of the interest rate spread between China and the U.S. is rewriting the map of capital flows. Northbound funds have seen a net inflow into A-shares for five consecutive weeks, with a weekly peak reaching 30 billion yuan. As the attractiveness of the U.S. dollar declines, RMB assets and related markets begin to absorb this floating capital. At the same time, China's export sector is performing strongly — in November, the year-on-year export growth rate was 6.2%, exceeding expectations, and the central bank injected 50 billion yuan during the peak period of currency settlement, providing dual support for appreciation.

This global liquidity tightening and structural shift is significant for cryptocurrency asset allocators. When traditional financial liquidity faces changes, high-risk assets often undergo repricing. Market institutions are starting to raise expectations for the appreciation of the renminbi, pointing to a possibility of 6.8 or even stronger.

But uncertainty is also accumulating. The Federal Reserve's policy framework is about to encounter new variables, and the global central bank game is far from over. Whether the appreciation of the renminbi can continue depends on the upcoming policy turning points. How far this round of capital switching can go still needs to be closely monitored.