#数字资产市场动态 Tokyo CPI falls short of expectations, but this may just be the beginning

Yesterday, Tokyo's core CPI dropped from 2.8% to 2.3%. Many traders cheered, thinking inflation has peaked. But a closer look at the data reveals things are not that simple.

At first glance, 2.3% indeed shows a decline, but the problem is it still exceeds Japan's 2% policy target. More concerning is that the underlying inflation indicator, excluding food and energy, remains at 2.6%—this doesn't look like inflation is truly cooling down, but rather that the Bank of Japan is brewing something.

Now, the whole internet is talking about the easing cycle coming, and liquidity will loosen. But this line of thinking might be too naive. Based on recent BOJ actions, while inflation has eased somewhat, it’s far from over. Once the market drops its guard, the next rate hike could happen at any time. The most dangerous moment is often when everyone feels safe.

What does this mean for the crypto market? Once the yen starts flowing back and liquidity in Asia tightens, not only BTC will face pressure, but smaller-cap coins are more vulnerable to bloodbaths. Many are betting on the Fed's moves, but they overlook that Japan could become the real black swan in 2024.

Data declines ≠ policy shifts, slowing inflation ≠ central bank stopping. This is a well-known truth in the crypto world, but someone always falls for it.

How to respond? Reduce leverage exposure, hold enough stablecoins, and be prepared to enter and exit at any time. Bull markets are not won by a single all-in move, but by accumulating gains through repeated volatility. Market opportunities always exist; the key is to survive long enough to seize the right moment. Don’t wait for the tide to recede and realize how exposed you are.

Keep a close eye on on-chain data trends, prioritize stability.