Japan's currency and bond markets just got a wake-up call. The yen strengthened while bond yields climbed after the central bank governor dropped hints about a potential rate hike on the horizon.

This matters more than you think. Tighter monetary policy in Japan could ripple through global liquidity—affecting everything from carry trades to risk assets. When major central banks shift gears, crypto markets often feel the tremors.

The governor's comments signal a possible end to years of ultra-loose policy. Traders are already repositioning. If rates actually move up, we might see capital flows rotate as borrowing costs change across the board.