{"id":70693,"date":"2025-01-08T13:13:43","date_gmt":"2025-01-08T04:13:43","guid":{"rendered":"https:\/\/nextmoney.jp\/?p=70693"},"modified":"2025-01-08T13:13:43","modified_gmt":"2025-01-08T04:13:43","slug":"%e3%82%a2%e3%83%bc%e3%82%b5%e3%83%bc%e3%83%bb%e3%83%98%e3%82%a4%e3%82%ba%e6%b0%8f%e3%80%81%e3%83%93%e3%83%83%e3%83%88%e3%82%b3%e3%82%a4%e3%83%b3%e3%81%a8%e4%bb%ae%e6%83%b3%e9%80%9a%e8%b2%a8%e5%b8%82","status":"publish","type":"post","link":"https:\/\/nextmoney.jp\/?p=70693","title":{"rendered":"\u30a2\u30fc\u30b5\u30fc\u30fb\u30d8\u30a4\u30ba\u6c0f\u3001\u30d3\u30c3\u30c8\u30b3\u30a4\u30f3\u3068\u4eee\u60f3\u901a\u8ca8\u5e02\u5834\u306f2025\u5e743\u6708\u306e\u30d4\u30fc\u30af\u5f8c\u306e\u66b4\u843d\u3068\u8b66\u544a"},"content":{"rendered":"<h2>\u30a2\u30fc\u30b5\u30fc\u30fb\u30d8\u30a4\u30ba\u6c0f\u3001\u30d3\u30c3\u30c8\u30b3\u30a4\u30f3\u3068\u4eee\u60f3\u901a\u8ca8\u5e02\u5834\u3092\u5927\u80c6\u306b\u4e88\u60f3<\/h2>\n<p>\u5143BitMEX CEO\uff08\u6700\u9ad8\u7d4c\u55b6\u8cac\u4efb\u8005\uff09\u306e\u30a2\u30fc\u30b5\u30fc\u30fb\u30d8\u30a4\u30ba\uff08Arthur Hayes\uff09\u6c0f\u306f\u3001\u4eee\u60f3\u901a\u8ca8\u5e02\u5834\u306b\u3064\u3044\u3066\u30012025\u5e743\u6708\u4e2d\u65ec\u307e\u3067\u306b\u30d4\u30fc\u30af\u306b\u9054\u3057\u3001\u305d\u306e\u5f8c\u306e\u66b4\u843d\u3059\u308b\u3068\u5927\u80c6\u306a\u4e88\u60f3\u3092\u3057\u3066\u3044\u308b\u3002<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">\u201cSasa\u201d is an essay where I explain y I think <a href=\"https:\/\/twitter.com\/hashtag\/crypto?src=hash&amp;ref_src=twsrc%5Etfw\">#crypto<\/a> tops out in mid-Mar and then severely corrects. Until then is time to dance. <a href=\"https:\/\/t.co\/Apt124sOjp\">https:\/\/t.co\/Apt124sOjp<\/a> <a href=\"https:\/\/t.co\/LKQ24GMtpq\">pic.twitter.com\/LKQ24GMtpq<\/a><\/p>\n<p>&mdash; Arthur Hayes (@CryptoHayes) <a href=\"https:\/\/twitter.com\/CryptoHayes\/status\/1876407031495901364?ref_src=twsrc%5Etfw\">January 6, 2025<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<div class=\"c_box white_box\"><span style=\"font-size:10pt;\"><span style=\"font-size: 10pt;\">\u65e5\u672c\u8a9e\u8a33\uff1a<br \/>\n\u300c\u30b5\u30b5\u300d\u306f\u3001\u79c1\u304c\u8003\u3048\u308bcrypto\u304c3\u6708\u4e2d\u65ec\u306b\u30d4\u30fc\u30af\u306b\u9054\u3057\u3001\u305d\u306e\u5f8c\u5927\u5e45\u306b\u4fee\u6b63\u3055\u308c\u308b\u7406\u7531\u3092\u8aac\u660e\u3059\u308b\u30a8\u30c3\u30bb\u30a4\u3067\u3059\u3002\u305d\u308c\u307e\u3067\u306f\u8e0a\u308b\u6642\u9593\u3067\u3059\u3002<\/span><\/span><\/div>\n<p>\u540c\u6c0f\u306f\u3001\u30c9\u30ca\u30eb\u30c9\u30fb\u30c8\u30e9\u30f3\u30d7\uff08Donald Trump\uff09\u6c0f\u304c1\u670820\u65e5\uff08\u6708\u66dc\u65e5\uff09\u306b\u5927\u7d71\u9818\u306b\u5c31\u4efb\u3059\u308b\u300c2025\u5e74\u7b2c1\u56db\u534a\u671f\u300d\u306b\u5c55\u958b\u3059\u308b\u3068\u4e88\u60f3\u3057\u3001\u30a4\u30f3\u30d5\u30ec\u3068\u6d41\u52d5\u6027\u306e\u5897\u52a0\u304c\u898b\u8fbc\u307e\u308c\u308b\u3002\u305d\u306e\u7d50\u679c\u3001\u30d3\u30c3\u30c8\u30b3\u30a4\u30f3\uff08Bitcoin\/BTC\uff09\u3068\u4eee\u60f3\u901a\u8ca8\u5e02\u5834\u306f\u65b0\u305f\u306a\u9ad8\u5024\u306b\u9054\u3057\u3001\u305d\u306e\u5f8c\u3001\u6df1\u523b\u306a\u8abf\u6574=\u66b4\u843d\u304c\u7d9a\u304f\u53ef\u80fd\u6027\u304c\u3042\u308b\u3068\u4e88\u60f3\u3057\u3066\u304a\u308a\u3001\u540c\u6c0f\u306f\u305d\u306e\u7406\u7531\u306b\u3064\u3044\u3066\u30012025\u5e741\u67087\u65e5\u4ed8\u3051\u306e<a href=\"https:\/\/cryptohayes.substack.com\/p\/sasa\" rel=\"noopener noreferrer\" target=\"_blank\">\u30d6\u30ed\u30b0<\/a>\u3067\u6b21\u306e\u3088\u3046\u306b\u8aac\u660e\u3057\u3066\u3044\u308b\u3002<\/p>\n<blockquote><p><strong><em>\u79c1\u306e\u4e88\u6e2c\u3067\u306f\u3001\u5e02\u5834\u306f3\u6708\u4e2d\u65ec\u304b\u3089\u4e0b\u65ec\u306b\u30d4\u30fc\u30af\u3092\u8fce\u3048\u308b\u305f\u3081\u30011\u6708\u304b\u30893\u6708\u306b\u304b\u3051\u3066QT\u306b\u3088\u308a1,800\u5104\u30c9\u30eb\u76f8\u5f53\u306e\u6d41\u52d5\u6027\u304c\u5931\u308f\u308c\u308b\u3053\u3068\u306b\u306a\u308a\u307e\u3059\u3002<\/em><\/strong><\/p><\/blockquote>\n<p><\/br><\/p>\n<h3>\u6d41\u52d5\u6027\u8981\u56e0<\/h3>\n<p>\u540c\u6c0f\u306f\u3001<a href=\"https:\/\/www.federalreserve.gov\/\" rel=\"noopener noreferrer\" target=\"_blank\">FRB<\/a>\uff08Federal Reserve Board\uff1a\u9023\u90a6\u6e96\u5099\u5236\u5ea6\u7406\u4e8b\u4f1a\uff09\u306eQT\uff08Quantitative Tightening\uff1a\u91cf\u7684\u5f15\u304d\u7de0\u3081\uff09\u653f\u7b56\u3092\u6307\u6458\u3057\u3066\u3044\u308b\u3002<\/p>\n<p>\u3053\u308c\u306f\u3001\u30d0\u30e9\u30f3\u30b9\u30b7\u30fc\u30c8\u306e\u898f\u6a21\u3092\u6bce\u6708600\u5104\u30c9\u30eb\uff08\u7d049.5\u5146\u5186\uff09\u524a\u6e1b\u3059\u308b\u3082\u306e\u3067\u3001\u3053\u306e\u5f15\u304d\u7de0\u3081\u306b\u3088\u308a\u3001\u91d1\u878d\u5e02\u5834\u304b\u3089\u304b\u306a\u308a\u306e\u6d41\u52d5\u6027\u304c\u5931\u308f\u308c\u308b\u3002\u540c\u6c0f\u306f\u3001\u3053\u306e\u653f\u7b56\u306b\u3088\u308a2025\u5e743\u6708\u4e2d\u65ec\u307e\u3067\u306b\u5e02\u5834\u304b\u30891,800\u5104\u30c9\u30eb\uff08\u7d0428.5\u5146\u5186\uff09\u304c\u6d41\u51fa\u3057\u3001\u4eee\u60f3\u901a\u8ca8\u5e02\u5834\u306e\u30d4\u30fc\u30af\u306b\u3064\u306a\u304c\u308b\u3068\u4e88\u6e2c\u3057\u3066\u3044\u308b\u3002\u540c\u6c0f\u306b\u3088\u308b\u3068\u30012022\u5e74\u306e\u4e0b\u843d\u3082\u540c\u69d8\u306e\u6d41\u52d5\u6027\u554f\u984c\u306b\u3088\u308b\u7d50\u679c\u3067\u3001\u30b8\u30e3\u30cd\u30c3\u30c8\u30fb\u30a4\u30a8\u30ec\u30f3\uff08Janet Yellen\uff09\u7c73\u56fd\u8ca1\u52d9\u9577\u5b98\u304c\u9577\u671f\u50b5\u306e\u4ee3\u308f\u308a\u306b\u77ed\u671f\u30af\u30fc\u30dd\u30f3\u50b5\u3092\u767a\u884c\u3057\u305f\u969b\u3001FRB\u306eRRP\uff08Reverse Repo Rate\uff1a\u7fcc\u65e5\u7269\u30ea\u30d0\u30fc\u30b9\u30ec\u30dd\u91d1\u5229\u5236\u5ea6\uff09\u304b\u30892\u5146\u30c9\u30eb\uff08\u7d04316.4\u5146\u5186\uff09\u4ee5\u4e0a\u304c\u6d41\u51fa\u3002\u3053\u306e\u6d41\u52d5\u6027\u306e\u4f4e\u4e0b\u306f\u3001\u4eee\u60f3\u901a\u8ca8\u5e02\u5834\u3068\u682a\u5f0f\u5e02\u5834\u306e\u4e21\u65b9\u3067\u4e0b\u843d\u3092\u5f15\u304d\u8d77\u3053\u3057\u3001\u7279\u306b\u7c73\u56fd\u306e\u5927\u624b\u30cf\u30a4\u30c6\u30af\u682a\u306b\u5f71\u97ff\u3092\u4e0e\u3048\u305f\u3002<br \/>\n<\/br><\/p>\n<h3>\u30d3\u30c3\u30c8\u30b3\u30a4\u30f3\u306e\u77ed\u671f\u7684\u306a\u5f37\u6c17\u30b7\u30b0\u30ca\u30eb<\/h3>\n<p>2025\u5e74\u7b2c2\u56db\u534a\u671f\u306b\u5e02\u5834\u5168\u4f53\u306e\u8abf\u6574\u304c\u4e88\u60f3\u3055\u308c\u3066\u3044\u308b\u306b\u3082\u304b\u304b\u308f\u3089\u305a\u3001\u540c\u6c0f\u306f\u30d3\u30c3\u30c8\u30b3\u30a4\u30f3\u306e\u77ed\u671f\u7684\u306a\u5f37\u6c17\u30b7\u30b0\u30ca\u30eb\u304c\u3042\u308b\u3068\u8003\u3048\u3066\u3044\u308b\u3002<\/p>\n<p>\u7c73\u8ca1\u52d9\u7701\u304c\u9023\u90a6\u6e96\u5099\u5236\u5ea6\u306e\u4e00\u822c\u52d8\u5b9a\u3092\u524a\u6e1b\u3057\u3001\u305d\u308c\u304c\u5e02\u5834\u306b\u6d41\u52d5\u6027\u3092\u6ce8\u5165\u3057\u3001\u77ed\u671f\u7684\u306b\u306f\u30d3\u30c3\u30c8\u30b3\u30a4\u30f3\u306e\u4fa1\u683c\u306b\u5229\u76ca\u3092\u3082\u305f\u3089\u3059\u3068\u540c\u6c0f\u306f\u8aac\u660e\u3002\u307e\u305f\u3001RRP\u306e\u6b8b\u9ad8\u304c2025\u5e74\u7b2c1\u56db\u534a\u671f\u672b\u307e\u3067\u306b1\u51462,370\u5104\u30c9\u30eb\uff08\u7d04195.6\u5146\u5186\uff09\u304b\u3089\u30bc\u30ed\u306b\u6e1b\u5c11\u3057\u3001\u6d41\u52d5\u6027\u304c\u3055\u3089\u306b\u9ad8\u307e\u308b\u3068\u4e88\u6e2c\u3057\u3066\u3044\u308b\u3002<\/p>\n<p>\u3053\u306e\u6d41\u52d5\u6027\u306e\u6025\u5897\u306f\u3001MMF\uff08\u30de\u30cd\u30fc\u30de\u30fc\u30b1\u30c3\u30c8\u30d5\u30a1\u30f3\u30c9\uff09\u304cRRP\u304b\u3089\u8cc7\u91d1\u3092\u5f15\u304d\u51fa\u3057\u3066\u9ad8\u5229\u56de\u308a\u306e\u56fd\u50b5\u3092\u8cfc\u5165\u3059\u308b\u3053\u3068\u304b\u3089\u751f\u3058\u308b\u53ef\u80fd\u6027\u304c\u9ad8\u3044\u3002\u3053\u308c\u306b\u3088\u3063\u30662025\u5e74\u7b2c1\u56db\u534a\u671f\u306b\u5e02\u5834\u306b2,370\u5104\u30c9\u30eb\uff08\u7d0437.5\u5146\u5186\uff09\u304c\u6d41\u5165\u3059\u308b\u53ef\u80fd\u6027\u304c\u3042\u308a\u3001\u540c\u6c0f\u306f\u3053\u308c\u304c\u6700\u7d42\u7684\u306a\u4eee\u60f3\u901a\u8ca8\u5e02\u5834\u306e\u4e0a\u6607\u3092\u5f8c\u62bc\u3057\u3059\u308b\u3068\u8003\u3048\u3066\u3044\u308b\u3002\u3057\u304b\u3057\u540c\u6c0f\u306f\u30014\u6708\u306b\u5e02\u5834\u306b\u5f71\u97ff\u3092\u4e0e\u3048\u308b\u53ef\u80fd\u6027\u306e\u3042\u308b\u5f31\u6c17\u8981\u56e0\u3001\u3064\u307e\u308a\u7d0d\u7a0e\u671f\u9650\u3082\u4e88\u60f3\u30024\u6708\u306f\u7c73\u56fd\u3067\u91cd\u8981\u306a\u7d0d\u7a0e\u6708\u3067\u3042\u308a\u3001\u540c\u6c0f\u306f\u3053\u308c\u3089\u306e\u671f\u9650\u304c\u4eee\u60f3\u901a\u8ca8\u5e02\u5834\u306b\u3068\u3063\u3066\u8ab2\u984c\u3068\u306a\u308a\u30013\u6708\u306e\u30d4\u30fc\u30af\u5f8c\u306e\u6025\u6fc0\u306a\u8abf\u6574\u306b\u3064\u306a\u304c\u308b\u53ef\u80fd\u6027\u304c\u3042\u308b\u3068\u8b66\u544a\u3057\u3066\u3044\u308b\u3002<\/p>\n\n<div style=\"font-size: 0px; height: 0px; line-height: 0px; margin: 0; padding: 0; clear: both;\"><\/div>","protected":false},"excerpt":{"rendered":"<p>\u30a2\u30fc\u30b5\u30fc\u30fb\u30d8\u30a4\u30ba\u6c0f\u3001\u30d3\u30c3\u30c8\u30b3\u30a4\u30f3\u3068\u4eee\u60f3\u901a\u8ca8\u5e02\u5834\u3092\u5927\u80c6\u306b\u4e88\u60f3 \u5143BitMEX CEO\uff08\u6700\u9ad8\u7d4c\u55b6\u8cac\u4efb\u8005\uff09\u306e\u30a2\u30fc\u30b5\u30fc\u30fb\u30d8\u30a4\u30ba\uff08Arthur Hayes\uff09\u6c0f\u306f\u3001\u4eee\u60f3\u901a\u8ca8\u5e02\u5834\u306b\u3064\u3044\u3066\u30012025\u5e743\u6708\u4e2d\u65ec\u307e\u3067\u306b\u30d4\u30fc\u30af\u306b\u9054\u3057\u3001\u305d\u306e\u5f8c\u306e&#8230;<\/p>\n","protected":false},"author":2,"featured_media":45192,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[60],"tags":[1645,568,181,2203,841],"class_list":{"0":"post-70693","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-60","8":"tag-1645","9":"tag-568","10":"tag-181","11":"tag-2203","12":"tag-841"},"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/nextmoney.jp\/index.php?rest_route=\/wp\/v2\/posts\/70693","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/nextmoney.jp\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/nextmoney.jp\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/nextmoney.jp\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/nextmoney.jp\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=70693"}],"version-history":[{"count":1,"href":"https:\/\/nextmoney.jp\/index.php?rest_route=\/wp\/v2\/posts\/70693\/revisions"}],"predecessor-version":[{"id":70694,"href":"https:\/\/nextmoney.jp\/index.php?rest_route=\/wp\/v2\/posts\/70693\/revisions\/70694"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/nextmoney.jp\/index.php?rest_route=\/wp\/v2\/media\/45192"}],"wp:attachment":[{"href":"https:\/\/nextmoney.jp\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=70693"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/nextmoney.jp\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=70693"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/nextmoney.jp\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=70693"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}