On December 13, according to CoinDesk, the last rate hike by the Bank of Japan caused the yen to strengthen, triggering a surge in market safe-haven sentiment and leading Bitcoin prices to fall from around $65,000 to $50,000. However, the upcoming yen rate hike may not trigger safe-haven sentiment in the crypto market for two reasons: first, speculators currently hold a net long (bullish) position in yen, making it unlikely for them to react quickly to the Bank of Japan's rate hike; second, Japanese government bond yields have continued to climb this year, with both short-term and long-term yield curves reaching multi-decade highs. Therefore, the upcoming rate hike reflects that official interest rates are catching up with market levels. Meanwhile, this week, the Federal Reserve lowered interest rates by 25 basis points while introducing liquidity measures, bringing rates to their lowest level in three years. Overall, these factors indicate a significant unwinding of yen carry trades and a year-end risk-avoidance sentiment.