Ueda and Kazuya just finished speaking. Contrary to the previous hawkish Fed rate cuts, he is pursuing a dovish rate hike path. Once again, this confirms the market view that the Bank of Japan is a branch of the Federal Reserve. Ueda's approach is also a reverse hedge strategy similar to Powell's, balancing tight monetary policy with verbal easing. He has physically tightened the monetary supply (raising interest rates), but psychologically injected the market with a "loose anesthetic."

Just now, the USD/JPY short-term surge to 156.37. As long as the yen does not appreciate but instead falls, it is the most desired scenario for risk assets, including the crypto market.

As long as the yen remains weak or depreciates, borrowing costs in yen remain very low, and repaying yen-denominated debt will become "less and less" due to exchange rate depreciation. Carry traders can continue.

Global capital giants and hedge funds will continue to borrow depreciating yen, convert it into dollars, and then buy high-volatility, high-return assets. Bitcoin and tech stocks are the top choices.

You can simply think of it as: Yen depreciation = positive for risk markets. The USD/JPY exchange rate of 152 is a key level for bulls and bears; as long as it does not break 152, the yen can be considered in a weak zone.