The recent statements from the Bank of Japan are definitely more than just routine policy adjustments. The decision-makers explicitly stated that they will raise interest rates every few months in the future, even if it reaches 0.75%, Japan's real interest rate will still remain deeply in negative territory. What is behind this? It is a much stronger resolve than market expectations. The decades-long "zero interest rate era" is accelerating its disintegration.

The key issue is not the rate hike itself, but its chain reaction. The triangular forces among global central banks have shifted: the Federal Reserve is cutting rates, while Japan is raising rates in the opposite direction, which will inevitably reshape the flow of global funds. Over the past few decades, the yen has been the world's lowest-cost financing currency, with many investment institutions borrowing yen to bet on high-yield assets worldwide. Now, as the US-Japan interest rate differential narrows rapidly, this massive arbitrage capital is withdrawing, equivalent to directly draining liquidity from the global markets. For the crypto markets, which have moved away from retail frenzy and are now dominated by large institutions, this macro-level capital contraction is like a direct cooling.

There won't be an immediate cliff drop, but structural pressures have already become evident. Why has the market not moved significantly despite the lack of obvious negative news? That’s the answer. Bitcoin continues to oscillate around $87,000, reflecting this suppressed state.

Looking ahead, the market’s pricing logic will undergo a complete overhaul. Previously driven by news and stories, future market moves will depend on global interest rates and the flow of institutional funds.

So, how should one actually respond? The first step is to tighten positions, reduce leverage, and ensure sufficient cash reserves in accounts. Next, stay away from small coins with extreme volatility and high risk, as market contractions are the easiest times to get completely cut out of these assets. Lastly, learn to wait—true opportunities often hide in moments of maximum panic. The impact of Japan’s rate hikes has just begun to be released, and there’s more to come.