Recently, the Bank of Japan's remarks may seem calm on the surface but are actually quite profound. I’ve thought it through carefully and distilled three key points that truly impact the crypto market.

**First Signal: Rate Hikes Do Not Equal a Shift in Policy**

This phrase sounds simple, but it’s actually the easiest to misinterpret. The governor’s meaning is essentially—don’t overthink it. Japan’s current rate hike is, frankly, just a slight shift from “completely lying flat,” far from the aggressive braking pace of the Federal Reserve. In other words, the long-term easing framework remains unchanged; they’re just no longer flooding the market with money. What does this mean for the crypto space? Liquidity conditions won’t suddenly collapse, and the black swan hanging overhead can be temporarily放心.

**Second Signal: No Fixed Script for the Future**

What’s commendable is that the central bank isn’t playing the “I’ll tell you the rate hike schedule first” game. Everything depends on three variables: inflation data, employment conditions, and economic growth. Simply put—“adjust as data comes in.” Although Japan’s economy has shown some signs of improvement, it’s not going to be overly aggressive. The benefit for the crypto market is—short-term, you don’t need to worry about systemic capital withdrawal, and there won’t be pressure of “certainty contraction.”

**Third Signal: The Battle Between Wages and Prices**

This is the most noteworthy detail. The central bank repeatedly emphasizes that, at present, they’re not fixated on short-term price fluctuations. The key is whether companies have the motivation to keep raising wages and whether inflation can stabilize at the target level. The logic is clear—if wages lag behind prices, ordinary people lose purchasing power, the economy loses vitality, and the central bank has no excuse to continue tightening. This means that as long as this positive cycle is forming, the crypto market won’t face a sharp liquidity shock.