Today brought a significant signal—the yield on Japan's 30-year government bonds surged to 3.445%, setting a new historical record. What does this mean? Simply put, buying government bonds, which offer "stable returns," is becoming more attractive, and this might prompt some funds originally invested in high-risk sectors to reconsider and flow back.

How does this relate to the crypto market? When the yields on traditional safe-haven assets rise—much like how bank deposit interest becomes more appealing—some capital seeking stable returns may indeed withdraw from highly volatile assets. In the short term, market sentiment and liquidity will inevitably be affected to some extent.

However, this doesn’t mean the logic of the crypto market has changed. The innovative nature of blockchain technology, its global reach, and its long-term growth potential remain unmatched by traditional finance. Short-term fluctuations are normal, but the core value won’t be rewritten just because of an interest rate policy in a single country.

So, what should we do now? A few suggestions: don’t panic over short-term volatility; emotional trading is often the biggest pitfall. Pay attention to changes in capital flow—if government bond yields continue to rise, appropriately adjusting your portfolio structure could be a rational choice. For those who believe in long-term value, a market pullback may actually present a good opportunity to gradually build positions.

Manage your positions well and only invest spare funds—that’s the way to navigate market ups and downs more steadily.