#美国就业数据不及预期 ⏰ Tonight at 6:50 PM Eastern Time, the Bank of Japan will announce its foreign debt purchase plan — this move could shake up global capital markets.

What’s the background? In a similar operation last time, Japan directly bought $224 billion worth of U.S. bonds, a scale large enough to trigger a market revaluation. But the real focus isn’t on "how much they will buy," but on "what happens if the direction reverses."

If the Bank of Japan reduces or stops buying U.S. bonds, or even starts selling, the chain reaction could be intense:

**U.S. bond yields could suddenly jump** — With Japan as a major buyer gone, the supply pressure on U.S. bonds will increase sharply, pushing long-term yields higher.

**Dollar liquidity could be drained** — The BOJ usually swaps yen for dollars to buy bonds; reversing this means large amounts of dollars are exchanged back into yen, tightening the dollar supply in the market.

**Risk assets will be re-priced** — When global central banks shift policies simultaneously, stocks, emerging markets, and even cryptocurrencies could face shocks. $BTC and $ETH , as alternative assets, might instead serve as hedging tools.

**Bitcoin’s dual attributes are activated** — Both as an inflation hedge and a systemic risk hedge. When traditional finance faces liquidity crises, on-chain assets often become safe havens.

In short, the Bank of Japan is one of the control levers of the global financial system. Their policy shift isn’t an isolated event but the start of a domino effect. Traders in Wall Street, Tokyo, and London will be closely watching the data tonight.

This isn’t just another ordinary night; it could be a watershed moment for the market. Those who have positioned early and those who scramble at the last minute will see completely different scenes tonight.