#比特币对比代币化黄金 Bank of Japan Policy Shift: Deep Impact of First Rate Hike in 28 Years on the Crypto Market

Major news has hit the market—the Bank of Japan, which has maintained an ultra-loose monetary policy for years, may start raising interest rates in December, pushing rates to their highest level in 28 years. While this may seem like a distant event, it is quietly changing the game rules for global capital flows.

For years, Japan has played the role of global liquidity provider. The near-zero interest rate environment has made the yen the currency of choice for carry trades—investors borrow yen at low cost and invest in higher-yielding assets elsewhere. Once rate hikes are implemented, the cost curve for this capital chain will rise sharply. Imagine the Fed has already tightened the spigot, and now another major "source" is also starting to reduce supply—the global liquidity environment is undergoing a fundamental shift.

$BTC , as one of the assets most sensitive to liquidity changes, cannot ignore this round of adjustments. Past experience tells us that when cheap money recedes, high-risk assets are often the first to be hit.

How should retail investors respond?

First, adjust your expectations. The old mindset of "just wait for the rebound after a dip" may no longer apply. Going forward, the macro environment will be defined by "contraction" and "volatility"—price swings will be more intense and one-way trends will be harder to catch. Simply holding positions out of conviction may require enduring longer periods of pain.

Second, capital management becomes crucial. In a more volatile environment, survival ability is more important than chasing short-term profits. It is recommended to divide your holdings into two parts: one as a long-term core position that you don't easily shake regardless of market volatility; the other remains flexible, used to buy quality assets at low prices during times of extreme market panic. Never go all in at once.

Truly mature traders don't try to predict when the storm will hit—they make sure they have tools and strategies for any weather. As global liquidity tightens, which specific sectors might show resilience or even counter-trend opportunities? That's the question worth studying in depth.