The latest statement from the Bank of Japan has been seriously misunderstood by the market. Their intention is not simply to stop after one rate hike, but they have provided clear forward guidance: if the economy and prices develop as expected, rate hikes will not stop. In other words, this is just the beginning.

In the global context, Japan, the US, and the European Central Bank are tightening liquidity either simultaneously or sequentially. What does this mean? It indicates that the "flood of cheap funds" supporting the rise of Bitcoin, tech stocks, and other risk assets over the past decade is beginning to recede. This marks a turning point in an era.

As liquidity shifts from easing to tightening, markets will undergo re-pricing. Assets that have been driven higher by continuous new capital will face price pressures once the incremental inflows slow down. You need to ask yourself a tough question: how much of your asset portfolio is composed of these "pseudo-demand" assets?

In such a macro environment, traditional short-term trading logic becomes invalid. Rebounds may occur, but they will be temporary. What truly requires consideration is how to hedge this systemic risk using stablecoins. The value of stablecoins becomes especially prominent at this moment — regardless of external liquidity changes, they maintain a relatively stable purchasing power, unaffected by price fluctuations.

This is not a new concept, but in the current market environment, it becomes particularly important. Does your asset allocation need more of these "defensive" tools? It’s a question worth serious reflection.