Recently, the Bank of Japan has signaled the possibility of continuing to raise interest rates, warning cryptocurrency market investors. As major central banks around the world tighten monetary policy, market liquidity is bound to face challenges. Bitcoin, as a risk asset, is particularly sensitive to changes in capital flows. Historical experience shows that in such macroeconomic environments, volatility often intensifies. The correlations among various assets may also be reshuffled. It is recommended to closely monitor central bank movements and market sentiment changes, and to be prepared for risk management.