Eyes are glued to Thursday's Japanese government bond auction—and the bigger question looming behind it: Will the Bank of Japan finally bite the bullet with a more aggressive rate hike? The speculation's heating up as traders weigh inflation pressures and the yen's ongoing weakness. A sharper monetary tightening would reshape capital flows across global markets, including crypto assets. With geopolitical uncertainties and inflation concerns rippling through, this move could reshape how investors allocate across risk assets. The market's holding its breath.