From the trend of #USDJPY, in the coming weeks, the market will face a real test~ This is not an alarmist statement~ The appreciation of the yen is linked to one of the most core financing chains in the world⛓️ Often, risks are not immediately reflected in asset prices, but first show up in exchange rates, interest rates, and the term structure—those "places no one likes to look at or can't understand"~ If the yen continues to strengthen over the next few weeks~ then, for risk assets, it will not be a simple fluctuation issue, but a comprehensive test of resilience~ Whether the market can withstand it, the answer will be revealed soon~#Bitcoin #ETH