According to The Kobeissi Letter, Japan's core CPI inflation (excluding fresh food) surged to 3.7% year-over-year in May 2025, marking the fastest pace since January 2023 and the sixth consecutive month above 3%. Notably, rice prices skyrocketed by 102% year-over-year, fueling concerns over persistent inflation. This sustained inflationary pressure could push the Bank of Japan toward policy tightening, which may strengthen the yen and trigger volatility across global risk assets, including Bitcoin (BTC) and other cryptocurrencies, as investors adjust to shifting liquidity conditions. Source: @KobeissiLetter (Twitter, June 20, 2025).