Ueda Kazuo just finished speaking, and contrary to the previous hawkish rate cuts by the Federal Reserve, he is taking a dovish rate hike approach. This once again confirms that the Bank of Japan is aligned with the market views of the Federal Reserve. Ueda is also playing the same game as Powell, tightening the monetary policy physically (raising rates) while psychologically injecting the market with "easing anesthetics" again. Just now, the USD/JPY short-term surged to 156.37. As long as the yen does not rise but falls, this is the most desired scenario for risk assets, including those in the crypto space. As long as the yen is falling or remains weak, it means that the cost of borrowing in yen is still very low, and repaying yen-denominated debt will result in "paying back less" due to currency depreciation. Global capital giants and hedge funds will continue to borrow depreciating yen, convert it to USD, and then buy high-volatility, high-return assets. Bitcoin and tech stocks are the top choices. You can simply think of it this way: yen depreciation = bullish for risk markets. The USD/JPY exchange rate of 152 is a key level for both bulls and bears; as long as it does not break 152, the yen can be considered to be in a weak range.