Today’s sudden fall, I finally figured out what’s going on.

First, let's mention two things that are not the reasons: one, it has nothing to do with the regulation of the crypto market in certain regions—if that were the case, the market would have crashed over the weekend. Two, it is not the rumor about a certain central bank governor resigning early—their term does not end until June next year, and based on their usual style, it is unlikely they would quit midway due to external pressure.

The real trigger? It was the sudden interest rate hike signal released by the Bank of Japan early this morning around seven or eight o'clock. As soon as the news broke, the yen began to plummet against the dollar, and the cryptocurrency market almost simultaneously crashed, with the timeline perfectly aligned.

This matter needs to be taken seriously - another major economy's central bank has started to tighten monetary policy, no longer "flooding the market" as before. Now, the market can probably only rely on the United States to exert some influence to slow down the pace here in Japan. But to be honest, this kind of game is very difficult to predict.

Once the trend of tightening liquidity takes shape, the long-term impact on the entire cryptocurrency market should not be underestimated.