#数字资产市场动态 The Bank of Japan is at it again. Governor Ueda Kazuo has spoken, and they will continue to raise interest rates—this time pushing the rate to the highest in 30 years. Look, while central banks worldwide are cutting rates, Japan’s central bank is doing the opposite. What kind of logic is this?

**What is the real reason behind the rate hike?**

Simply put, it’s about prices. Inflation is rising quite rapidly, and the central bank believes that, given current economic and inflation trends, continuing to raise rates is highly probable. This time, the decision was unanimous, showing a very firm stance. However, the governor didn’t rule out the possibility of changing course; after the hike, market liquidity remains ample, acting as a reassurance to the market.

**What will happen to $BTC, $ZBT, and other crypto assets?**

First, Japan has completely bid farewell to decades of ultra-low interest rates. Global liquidity is tightening again. This means the flow of hot money might need to be redistributed.

Second, how will the yen perform? In theory, rate hikes support yen appreciation. But don’t forget, the Federal Reserve is cutting rates. With opposing policies, the USD/JPY exchange rate could experience significant volatility. The traditional carry trade logic is being broken, which has substantial implications for market structure.

Third, the market will become more complex. Divergence in central bank policies worldwide is becoming more pronounced—each country is taking its own path. As a result, the simple logic of "liquidity injection equals a bull market" no longer holds. Variables facing $BTC and the entire crypto market are increasing, and volatility may become the new normal.

**So, what should we do?**

Stop obsessing over whether it’s a bull market. The market is changing, risks are changing, and opportunities are changing. The key is your own ability to adapt to these changes. The "black swan" event from the Bank of Japan has already taken flight—are your positions and strategies ready?

What are your thoughts? How long will the impact of this rate hike last? Let’s discuss together.