BTC broke through the $86,000 mark this morning, and there's a bigger story behind this big dump — expectations for a rate hike by the Bank of Japan have soared to 76%, triggering a forced repatriation of global funds.

The 14 trillion yen of interest rate differential funds accumulated over more than a decade has started to withdraw frantically. These funds were initially borrowing at Japan's ultra-low interest rates to arbitrage in the global market, but now with the expectation of interest rate hikes, they must be urgently withdrawn back to their home country. BTC, as a representative of high-leverage assets, naturally became the first object to be liquidated.

More subtly, the Federal Reserve enters its silent period tonight. When Powell is not speaking, the market is more likely to go out of control - historical data shows that fluctuations around the silent period are often particularly severe.

However, thinking calmly, after the last interest rate hike by the Bank of Japan last year, BTC only took three months to reach a new historical high. Short-term pain is inevitable, but panic selling often means that opportunities are brewing.

The choice now is simple: either wait for the funding situation to stabilize completely before entering the market, or gamble on catching a rebound during this de-leveraging tail end. The key is not to let short-term fluctuations disrupt your rhythm; the market always rewards those who can withstand the volatility.