The market plummeted this morning, but the truth is not that complicated—the culprit is the Bank of Japan suddenly announcing an interest rate hike.

First, let's clarify a few rampant rumors: such as regulatory storms and a certain key figure resigning, these are either old news being recycled or pure baseless speculation. The real trigger happened this morning around 7 o'clock, when the Bank of Japan unexpectedly announced an interest rate hike, causing the yen to surge against the dollar, and the crypto market almost simultaneously entered a plummet mode, with the timing being perfectly synchronized.

Why is the impact so severe this time? The core logic is that the Bank of Japan has long played the role of a global liquidity supplier, and now it is not only stopping the infusion of liquidity but also starting to reverse the flow. As liquidity tightens, risk assets are the first to suffer, making it difficult for currencies like BTC, ZEC, and SHIB to stabilize. This is not just a problem of the crypto market, but a chain reaction of liquidity contraction in the entire financial system.

The next focus of the market is: will Washington intervene and ask Tokyo to delay the interest rate hike? If the Bank of Japan continues to tighten monetary policy, the market will have to continue to be under pressure in the short term. Do you think the U.S. side will intervene and apply pressure? Feel free to share your views.