The Swiss National Bank's stimulus measures are showing real teeth in the data. You're seeing it play out across credit expansion and the broader money supply metrics. When central banks start loosening, it flows through the system in predictable ways—lending picks up, liquidity spreads wider. The SNB's approach is textbook stimulus, and the numbers don't lie. Credit growth is accelerating, which means more money chasing assets. For anyone watching market cycles, this is the kind of macro backdrop that matters. Loose monetary policy tends to inflate asset prices across the board—crypto included. The transmission mechanism is straightforward: more money in the system, lower real rates, higher risk appetite. The SNB's moves are part of a bigger global picture where central banks are keeping conditions easy, and that's creating tailwinds for risk assets.