European equities took a hit recently while the yen's been catching a bid. What's driving this? Expectations that Japan might finally pull the trigger on another rate hike.

Risk-off vibes seem to be creeping back into traditional markets. When the yen strengthens on rate speculation, it usually signals investors repositioning for tighter monetary policy in Asia. This kind of macro shift doesn't happen in isolation—crypto markets often feel the ripple effects too, especially when liquidity conditions change.

Worth monitoring how this plays out. If Japan actually moves on rates, we could see capital flows reshuffling across both TradFi and digital assets.