#以太坊行情解读 $DOGE $ETH The market is waiting for a "known bad news," but on-chain data might be telling a different story.

Have you noticed that the entire crypto space is now closely watching Japan's interest rate hike? It seems that once it happens, the decline will be severe. But the question is—can such "bad news" really still cause a dump?

Here's a more sobering phenomenon: the market is oscillating, but trading volume is drying up. This isn't a sign of strong consensus; it's panic-driven self-destructive behavior. And what about those who truly hold the chips? They're not panicking. The more critical data is here—the Bitcoin and Ethereum reserves on exchanges have fallen to historic lows. In other words, the number of "liquid coins" that can be dumped is decreasing. On one side, supply is drying up; on the other, Wall Street funds are pouring into this market.

So, the real story might be the opposite. When interest rate hikes are implemented, it's actually the moment when bad news has been fully priced in. That symbolic dip is a trap for bears, but for those who have seen several cycles, it's just a signal to buy the dip. Most people are still scared by "known fears," while smart money is already laying the groundwork for the next narrative.

Your current choice is actually simple: hold your spot positions steady, treat every panic dip as an opportunity to add to core assets; meanwhile, keep an eye on community-favored ecosystem tokens. Consensus can be both the biggest trap and the strongest engine. The key is to decide which side you're on.