#美联储回购协议计划 🔥🔥🔥 $ETH · $BNB · $ZEC

**The Bank of Japan Suddenly Shifts — From "Cheap Yen" to "Global Pump"**

Two key dates are worth noting:

**December 19, 2025**, the Bank of Japan made a major move at its monetary policy meeting — raising the policy interest rate from 0.50% directly to 0.75%, the highest level since 1995.

Immediately following, on **January 6, 2026**, the 10-year government bond yield further climbed to 2.13%, reaching a new high since 1999.

Decades of ultra-loose policies are officially coming to an end. Bank of Japan Governor Kazuo Ueda stated that they will continue to monitor economic and price data, and future rate hikes will follow the data.

**Yen arbitrage trading, about to reverse**

For the past few decades, global investors have been playing a "Yen arbitrage" game — borrowing in Japan at near-zero or negative interest rates, then pouring that money into high-yield assets like US stocks and cryptocurrencies. Those good days are changing.

As Japan’s domestic interest rates rise, these overseas funds face margin pressure. Yen funds that once flowed continuously into global markets are now pulling back. To put it simply, it’s like a global pump has been activated — a large amount of liquidity will be pulled back from the global markets.

**Cryptocurrencies, hit first**

The crypto market is especially sensitive to liquidity changes. Japan’s tightening policy impacts here through several channels:

Historical patterns are very telling — just look at past rate hike cycles:

· After the March 2024 rate hike, Bitcoin dropped about 27% over 4-6 weeks
· During the July rate hike, Bitcoin fell about 30%
· After the January 2025 rate hike, Bitcoin dropped another 30%

It’s always the same rhythm.

Calling this a "Japanese financial earthquake" is no exaggeration. This is not speculation — it’s already happening. As global liquidity tightens, the risk re-pricing of crypto assets is underway, and the subsequent trend will depend on the actions of the Federal Reserve and other central banks.