The Truth About Bitcoin Being "Bloodsucking": How Japan's Rate Hikes Are Quietly Stealing Your Gains

Key conclusion upfront: Bitcoin's recent weakness isn't because it can't perform, but because global liquidity is being "pumped out" by the Bank of Japan.

1. Recently, do you have this feeling?

Watching the market is like watching a movie without a climax:

• No rise or fall, just staying flat

• When good news comes, it jitters; when bad news hits, it drops sharply

• Contract traders keep getting slapped in the face, spot traders start questioning life

Many people are secretly wondering: "Is the bull market over?" "Is Bitcoin no longer attractive?"

Don't rush to criticize BTC. The true director of this market isn't on the chain, nor is it the whales, but in Tokyo.

2. First, understand: Japan used to be the world's "free ATM"

A simple background overview:

• US, Europe: aggressive rate hikes over the past two years

• Japan: maintaining low interest rates ≈ 0% for a long time

What does this mean? The cheapest money globally is in yen.

What does capital do? Of course:

Borrow yen → buy US stocks → buy global assets → buy Bitcoin

So in the past, you could simply understand: Bank of Japan = the hidden financier of global risk assets.

3. Things are changing: Japan is starting to raise rates, and possibly continuously

The Bank of Japan recently made a bold move: inflation can't be contained, so interest rates must go up, and not just once, but persistently.

This step impacts the entire global capital market as much as every Federal Reserve rate decision.

4. How does Japan's rate hike "suck out" Bitcoin?

Let me explain with three chains:

Chain 1: Money now has interest, who still takes risks?

Before: Borrow yen ≈ free, trade crypto!

Now: Yen deposits/government bonds have stable returns, lying flat can earn money, why bother with high-volatility Bitcoin?

Result: Willingness to invest in risk assets drops sharply.

Chain 2: Yen appreciates, global liquidity pump starts

Rate hike = yen appreciation.

Funds previously borrowed yen to trade global assets now must: repay, close positions, and flow back to Japan.

What is this called? A global liquidity retreat.

As Bitcoin is one of the assets most sensitive to liquidity, less water means fish can't swim freely.

Chain 3: Domestic Japanese players also "pull back"

Japan is a major crypto country, with compliant exchanges, active retail investors, and deep institutional participation.

But when domestic factors include: interest on deposits + rising government bond yields + stable currency appreciation, many local funds will choose: "Stay safe and earn steadily, no more fuss."

Thus, new buy orders for Bitcoin directly dry up.

5. The key point: Different rate hike intensities lead to completely different BTC fates

This is the underlying logic you must understand:

🟢 Scenario 1: Small rate hikes (within market expectations)

• Short-term BTC correction, but quickly digested

• Characteristics: dips are opportunities, rebounds are quick

🟡 Scenario 2: Continuous rate hikes (most similar to now)

• Yen remains strong, funds slowly flow back

• Characteristics: no sharp drop, but no upward movement either, prolonged oscillation and frustration

• This is exactly the stage where beginners are most likely to be shaken out

🔴 Scenario 3: Hikes to high levels (risk warning)

• Yen becomes an asset that is "safe and yields"

• Characteristics: BTC may enter months or even longer sideways downtrend

• This isn't a problem with Bitcoin itself, but a macro environment that doesn't support a rally

6. As an ordinary investor, what should you do?

Three iron rules, memorize them:

1. Don't use leverage, especially avoid high leverage

Volatile markets + macro uncertainty = graveyard for leveraged traders

2. Treat "Japan's rate hike rhythm" as your market switch

• If Japan and the US stop rate hikes or expect rate cuts → risk assets are comfortable, BTC is likely to take off

• If Japan continues to hike → don't expect daily rallies, accept volatility

3. Long-term players: the less discussed, the safer

If you plan to hold for over a year, the current state: no heat, no FOMO, quiet community, is actually safer than during times of widespread frenzy.

7. One sentence summary

Bitcoin's current situation isn't due to technical failure or narrative collapse, but because global money is temporarily more interested in "lying flat and earning risk-free returns."

When Japan's central bank eases rate hikes and global liquidity floods again, you'll find: BTC is still BTC, and its rise will be lightning-fast.

💡 Finally, if you think this article truly helped you understand the market, welcome:

• Follow us to no longer be trapped in macro fog

• Like and support, so more investors can see the truth

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• Leave your questions, and we will analyze the macro and crypto market's interconnected secrets in depth later

Understanding macro is the key to navigating bull and bear markets. See you next time.

#市场触底了吗？ $BTC