#数字资产市场洞察 The Bank of Japan's Year-End Big Move: Announcing a Rate Hike on December 19—this time not the headline-grabbing 75 basis points, but a solid 25 basis points increase to 0.75%, hitting a 30-year high.

Seemingly modest numbers hide deeper implications. For a long time, the low-interest-rate yen has been a key arbitrage tool for crypto traders. Whether hedge funds or retail investors, in an environment where borrowing costs for yen are near zero, they leverage their positions to enter the crypto market. Now, with interest rates rising, this "free money printing machine" is shutting down.

Arbitrage funds face a stark reality: the returns from continuously shorting the yen and holding long crypto positions are declining. A wave of large-scale liquidations is imminent, with $BTC leading the charge. Can the $80,000 support level hold? Honestly, the upcoming trading logic will be completely rewritten.

The collective repricing of risk assets is now inevitable. Altcoins will experience even more volatility—this is not alarmist but a natural consequence of the market liquidity shifting again.

The real turning point lies in Ueda and Kuroda's press conference tone. If they signal dovishness or hint at slowing the pace of rate hikes, the market may breathe a sigh of relief; conversely, if they indicate continued aggressive increases next year, the crypto space will face a sharper correction.

In the next couple of days, reducing positions early or locking in cash is a rational response. Keep a close eye on the market and prepare mental contingency plans—perhaps the wisest choice.