The next crypto crash may not begin in crypto.

It could start quietly in Japan.

As Japanese bond yields rise, liquidity tightens.

Cheap money dries up. Carry trades unwind. Risk assets feel the shock.

That matters because crypto thrives on global liquidity.

When the flow slows, $BTC gets hit and altcoins bleed even harder.

But here’s the twist:

the same stress that pressures markets can force central banks to step in, inject liquidity, and set the stage for the next explosive rally.

Japan won’t crash crypto alone.

But it could be the spark that shakes the system first.