The divergence in global central bank policies is intensifying, and the crypto market faces a critical test.

The significant differentiation in monetary policies among major global central banks is profoundly impacting the flow of funds and risk appetite in the crypto market. The Bank of Japan is likely to face its first interest rate hike in thirty years, and this potential shift has sparked widespread attention in the market, expected to trigger a deep restructuring of the global capital landscape. Historical patterns show that once the long-dominant 'cheap yen arbitrage' strategy ends, it will trigger a large-scale capital return to institutions, exerting significant liquidity withdrawal pressure on risk assets, and the crypto market will also find it difficult to remain unaffected.

At the same time, the U.S. CPI data to be released tonight has become the core focus of the short-term market, which may ignite a shift in market trends. If inflation data exceeds expectations, the timing for the Federal Reserve to lower interest rates will be further delayed, and the strengthening of the dollar along with capital inflows will create dual pressure, putting the crypto market under more severe short-term adjustment pressure.

In this macroeconomic context, market sentiment is highly sensitive, and volatility has significantly increased. Investors should remain cautious, strictly control their positions, and avoid blindly chasing prices or selling in panic when policy turning points are unclear. Historical experience indicates that real opportunities for positioning often arise after the market has fully cleared and panic sentiment has peaked. $BTC $ETH #巨鲸动向