Recently, analysts pointed out that Japan's 10-year government bond experienced a rare "6 standard deviation" fluctuation within just 48 hours—such an abnormal magnitude is extremely rare in the market.

The key issue is that when the world's most important risk-free interest rate benchmark (Japanese bonds) suddenly goes out of control, liquidity can be drained instantly. This chain reaction often has the most direct impact on the crypto market and US stocks.

Currently, the market's focus is on whether this is merely a technical correction or a sign of the beginning of a global liquidity tightening crisis. From a position perspective, many traders have already started adjusting their risk exposure. Has your position been affected?