#美SEC推动加密创新监管 The Central Bank's recent actions have directly stunned the crypto world — but if you panic and cut losses now, that would be the real loss.

Let’s clarify what has happened. The Bank of Japan has recently been making strong statements, and the market is betting on an official interest rate hike in December or early next year. It’s important to note that this marks a historical turning point, ending thirty years of negative interest rates. The exchange rate of the yen and short-term government bond yields have surged in response, and the global financial chain has tightened instantly.

The key point is here—the real culprit of this crash is not the interest rate hike itself.

It is a collective liquidation of yen carry trades.

In the past decade, institutions have been crazily borrowing money using low-interest yen and then pouring it into high-yield targets like US stocks, gold, Bitcoin, Ethereum, and Solana. Now the yen is about to appreciate? With borrowing costs skyrocketing, institutions must urgently close positions to repay debts. The first to be sold off, of course, are the most liquid and volatile assets—cryptocurrencies and tech stocks. The crypto world operates 24/7 with high leverage, so the declines are naturally more severe.

But let's think calmly - is this a systemic collapse?

Clearly not. This is just a technical crash triggered by one-time deleveraging.

Japan's interest rate hike space is actually very limited, and the long-term route is still moderate; what really prices the crypto world is the United States, and the Federal Reserve is very likely to enter a rate cut path next; the mid-term trend of liquidity remains loose, and the underlying logic of the bull market has not changed.

In the short term, there may still be 3-5% of panic selling pressure that hasn't been fully squeezed out, but Bitcoin's key support level remains stable. This wave is a result of emotional selling, not a trend reversal.

The conclusion is straightforward: cutting losses now is essentially the same as selling at the most panicked time at the bottom.

The market is providing opportunities for accumulating positions at low levels; it is not a signal for you to liquidate and escape. At the very least, wait for a rebound window before making a decision, and do not rashly cut your positions when you are most panicked.