The market is already preparing for the Bank of Japan's decision. In the announcement this Thursday (December 19), the probability of a rate hike has surged to 98%, which could mean the last cheap funding source in over a decade is about to tighten.

In simple terms, over the past ten years, the yen has been near zero-cost, with large amounts of capital flowing from Japan into global high-risk assets—including cryptocurrencies. Once the Bank of Japan throws a rate hike punch, arbitrage trading will trigger a wave of liquidations, rapidly tightening global liquidity, with the crypto market being the first to feel the impact.

The current question is: $BTC can hold the key support level of $63,000? Analysts are sounding the alarm because, based on history, periods of monetary tightening by major global central banks often lead to significant pullbacks in high-volatility assets like Bitcoin. Risk assets such as $ETH and $ZEC are even more likely to be the first to see capital withdrawals, with potentially more severe declines.

But this isn't the first time. The market has survived liquidity stress tests each time, and sometimes crises present opportunities. So, there are actually three main points to watch now: first, has there been an early shift of funds? second, how resilient is Bitcoin? third, in this turbulence, is it a risk or an opportunity for strategic positioning?

What are your thoughts on this round?