The Japanese Yen moves, and the world is watching.

Recently, discussions about Japan's interest rate hikes have suddenly become overwhelming, with many shouting "a storm is coming." But the economy has never been black and white—it’s more like a web, pulling here and moving there.

For Japan itself, the main goal of raising interest rates is to control inflation and maintain the exchange rate. But bad news also arrives: for companies and governments burdened with huge debts, life will become even harder. The era of cheap money may truly be coming to an end.

On a global scale, higher interest rates in the yen will attract some capital to flow back into Japan—that’s not a problem. But this doesn’t mean other markets will be bloodied. The key still depends on how the Federal Reserve responds and the pace of global economic recovery. When US non-farm payroll data improves, the scales in everyone’s minds are lifted a bit.

The crypto world is affected most directly. In the short term, a change in liquidity expectations can cause market volatility. But in the long run, the more chaotic traditional finance becomes, the more people see digital assets as a hedging tool. This is a historical pattern.

So don’t be brainwashed by those saying "a complete downturn." What you really need to understand is the underlying logic: how the policies of major economies interact, how capital flows between stocks, bonds, and crypto markets, and how similar cycles have played out in history. These are the things worth paying attention to.