I just saw a piece of news—the latest statement from Bank of Japan Governor Kazuo Ueda: as long as economic data meets the standards, they will continue to raise interest rates. This seemingly ordinary statement hides some hidden implications.

In simple terms, Japan has long served as the world's "cheap funding pool." Companies and investors love borrowing in Japan because of the low interest rates. But once the Bank of Japan actually raises interest rates and starts turning off this "water tap," the global capital markets will face a major reshuffle.

Let's first look at arbitrage. When the yen appreciates and borrowing costs rise, funds that rely on low-interest yen loans for stock and crypto trading will inevitably withdraw. Especially in Asia, such arbitrage trades are huge in scale. Once these hot money flows start reversing, the volatility in stock and crypto markets will be significant—just imagine the impact.

Even more critically, the crypto market, with its high volatility, depends heavily on liquidity. Currently, a large number of institutions and retail investors participate in this "liquidity feast," thanks to abundant global funds and low borrowing costs. If this foundation weakens, will assets be re-priced? This is a question worth pondering.

The key now is: when will Ueda actually start raising interest rates? Will it catch the market off guard like last time? At this sensitive moment, any piece of news could trigger a market震荡.

So ask yourself: are your current positions betting on continuous liquidity, or are you already prepared for a potential "liquidity drain"? This is a practical question.