The Governor of the Bank of Japan made a statement today - in December, the yen interest rate will be pumped to 0.75%, with an increase of 0.25 percentage points. As soon as the news broke, the crypto market couldn't hold on and collectively plummeted.

Ethereum is now hovering around the $2840 mark, and to be honest, this point is quite delicate. I had previously assessed that if the market reacts strongly to the interest rate hike and effectively breaks below the 2850 threshold, the subsequent trend wouldn't be too optimistic. Now the conditions are basically met—the price has already reached this critical point.

Next, we need to keep an eye on the US stock market. If the US stock market does not rise this week, the crypto market will likely continue to be under pressure. The logic is very clear: tightening macro liquidity → risk assets under pressure → the crypto market suffers as a result. This chain reaction has not changed.