When the yen moves, the global market is watching.

Recently, discussions about interest rate hikes in Japan have suddenly increased, with many saying this is a "harbinger of a storm." However, the economy is never simply black and white—it is more like a web, with one thread affecting the whole.

For Japan, raising interest rates may be aimed at addressing domestic inflation and stabilizing the exchange rate. But this will also directly impact those companies and governments with high debt, as the days of cheap money may slowly come to an end.

For the global market, an increase in yen interest rates may attract some capital back to Japan. But this does not mean that funds will necessarily withdraw from other markets on a large scale—the final outcome will depend on the pace of the Federal Reserve and how the global economy is recovering.

Especially for the cryptocurrency market, such macro fluctuations often bring dual effects: in the short term, there may be volatility due to changes in liquidity expectations, but in the medium to long term, when traditional markets become more volatile, more people may view digital currencies as a hedging option.

So don't be misled by those extreme statements of "a touch will shatter it." What truly deserves attention is the logic behind the trends: how do the policies of major economies interact? How does capital flow between various assets? What historical experiences can be referenced? #美国非农数据超预期