One night recently, the global financial markets played out an unexpected drama. Everyone was watching the Federal Reserve's rate cut pace when suddenly the Bank of Japan dropped a heavy news bomb—maintaining interest rates unchanged for the sixth consecutive time.

Once this decision was announced, the Bitcoin market immediately staged a "thrilling" scene. The price surged to $90,350 before turning downward, even briefly falling below $85,000, with a single-day volatility of over 5,000 points. The intense market turbulence essentially reflects the market digesting the clear divergence between the policies of the two major central banks.

**Signals of Internal Division**

Behind the seemingly "wait-and-see" decision, there are actually underlying currents. Among the nine policy members of the Bank of Japan, some have already voted against the decision, with Takada So and Tamura Naoki advocating for an immediate interest rate hike. This internal disagreement indicates a problem—the Bank of Japan is caught in the middle.

On one side is the persistently high inflation data. Tokyo's core CPI year-on-year has risen to 2.8%, higher than the previous 2.5%. On the other side is political pressure. The new government’s stance is very clear, even outright stating that raising interest rates is an "unwise" choice.

What’s more interesting is that the U.S. Treasury Department also unusually spoke out before the meeting, implying that the Bank of Japan needs to have enough policy space. This external pressure combined with internal political games makes every decision more complex. Is this "pause" a victory for the bulls or a risk signal? The market is still waiting for an answer.