Recently, I came across an interesting data comparison: the Bank of Japan's interest rate hikes over the past few years seem to consistently trigger a wave of Bitcoin corrections.

Specifically, in March last year, when the rate was increased, Bitcoin dropped by 27%. When it happened again in July, the decline widened to 30%. The rate hike in January this year also led to a 30% decrease in Bitcoin. Three actions, three declines—this correlation is quite evident.

Logically, when the central bank raises interest rates, borrowing costs increase, and the attractiveness of risk assets tends to decrease. High-volatility assets like Bitcoin are the first to be sold off. Especially when market sentiment shifts from risk appetite to risk aversion, capital flows tend to change noticeably.

Of course, this is just an observation of a single variable. Many other factors influence the actual impact—policy expectations, global liquidity, technical support levels, and more. But this set of data does remind us that paying attention to central bank movements can be helpful in understanding short-term fluctuations in the crypto market.