Next week's central bank rate decision will become a key variable for the cryptocurrency market. The Bank of Japan plans to announce its rate hike decision on December 18-19, with the market generally expecting a 25 basis point increase to 0.75%. At first glance, this is information that has already been digested, but the chain reaction behind it warrants caution.

Once the yen's appreciation trend is established, the attractiveness of arbitrage trading diminishes accordingly. This means that global funds may withdraw from emerging asset classes, and liquidity faces severe tests. Whether Bitcoin can hold the $90,000 fortress becomes a suspense—if it breaks below, the chain reaction will quickly spread to the entire altcoin ecosystem, with losses likely to break into double digits.

The volatility of risk assets will further intensify, and leverage positions built on the assumption of ample liquidity are very容易 to trigger liquidations. The current strategic advice is straightforward: assess position risks in advance, moderate reductions to lock in profits, and reserve buffer space for possible volatility. Greed is often most easily rekindled before a storm, but this time is different.