What happens tonight in the conference room in Tokyo may determine the direction of the global Capital Market. The Bank of Japan's most critical interest rate decision in over thirty years is about to take place, and this is far from a routine operation for any country—this is an event that could fundamentally change the global Liquidity landscape.

Once upon a time, cheap yen borrowing was a paradise for global speculative capital. Those massive positions, multinational arbitrage trades, and leveraged games built on this cheap financing are now facing an unprecedented "liquidation moment." When the yen is no longer cheap, the entire chain begins to break—borrowing costs soar, institutional investors are forced to liquidate, and the assets in hand are sold off to repay debts in yen.

In this process, Bitcoin is at the forefront. As the most liquid and volatile digital asset, it has become the easiest target for liquidation. The data from the past three interest rate hikes by the Bank of Japan shows that Bitcoin has almost always dropped nearly 30%. This is not a coincidence, but a clearly observable causal chain.

Tonight, regardless of how the Central Bank decides—whether it leans "dovish" or "hawkish"—the market's wild fluctuations are a foregone conclusion. Traders who are in high-leverage positions will either close their positions or brace for this wave. But a deeper question is worth pondering for every participant: Are the crypto assets we invest in truly independent and decentralized value carriers? Or have their fates already been determined by the decision-making in meeting rooms in Tokyo and Washington, where we at best serve as chips in the ebb and flow of traditional capital?

When the fluctuations of Bitcoin are closely tied to Central Bank policy decisions, and when the liquidity of the crypto market completely relies on the gates of traditional finance, what are we still doing? Seeking a truly independent, stable value basis that is not affected by any Central Bank credit, this question has never been as urgent as it is today.