On December 18th, the global financial markets will focus on Japan—the Bank of Japan's interest rate decision could become a turning point. This is no small matter. Over the past decade, Japan's ultra-low interest rate environment has created a unique arbitrage ecosystem. International investors borrow nearly zero-cost yen in Japan and turn around to invest in USD or other high-yield assets. This game has been going smoothly. But the tide is turning.

Whenever Japan raises interest rates, this liquidity chain tightens. Capital flows in reverse, flowing back from global markets to Japan, draining liquidity from the US and other markets. Looking at history makes it clear: after Japan raised interest rates twice in March and July 2024, Bitcoin experienced deep corrections lasting 42 to 77 days. This is not a coincidence but a natural response of macro financial structures.

Now, the shoe is about to drop again. Although the impact this time may be somewhat milder, the overall adverse effects remain worth cautioning against. As the tide of the markets recedes, unprepared assets will face risks.

The true way to respond is not to speculate on central banks' decisions but to build an asset framework that is relatively independent and not hostage to a single country's monetary policy. This is precisely the value of decentralized stablecoin assets—they do not rely on a central bank's interest rate policy and can provide a more stable value anchor in times of global liquidity volatility. When macroeconomic environments are uncertain, such diversified asset allocation is the real risk management strategy.