Last night, I was trembling while watching the market. Bitcoin plummeted from 90,000 to 70,000, and the group kept exploding with liquidation messages. A sentence from my friend Lao Lin instantly woke me up: "Remember last March? You were all in altcoins, and in three days, you lost a car." Feeling a chill down my spine, I immediately moved half of my position into stablecoins. This morning, BTC had already fallen below 72,000, while my stable assets quietly sat in the account, unchanged.

This is already Japan's third interest rate hike this year. Every policy signal from Tokyo triggers a bloodbath in the crypto world: a 23% drop in March, a 26% drop in July, and now a 31% decline. The reason is straightforward—the yen carry trade is being collectively liquidated, and global liquidity is being drained instantly. But this round is a bit different; the sharp decline actually started quietly long ago. During BTC's descent from 120,000 to 90,000, the market was already digesting this clear negative news.

So true experts are never those who pray for a turnaround during a crash, but those who repair their defenses before the storm hits. I am gradually adjusting my speculative positions—not because I don't believe in a bull market, but because I am already tired of the nightmare where "a rate hike signals, and your account gets halved." The more the market loves to create sentiment through macro news, the more it needs that kind of over-collateralized, full-chain circulating stable anchor—it won't give you dreams of 100x returns, but it can ensure your assets don't evaporate overnight.

Tonight at 7 PM, the Bank of Japan's decision will be revealed—there are only three possibilities: a rapid drop to 72,000, a fall below 65,000, or an unexpected rebound. But no matter which path it takes, the ones always panicking are those with high leverage.