# 宏观

Brothers, let's review the impact of Japan's interest rate hikes on Bitcoin!📉🔥
The core destructive power of the Bank of Japan (BOJ) rate hikes actually comes from the "Yen Carry Trade" closing: for many years, Japan's ultra-low/negative interest rates allowed global institutions and speculators to borrow yen at almost zero cost, convert to USD, and invest in high-yield risk assets, including $BTC, US stocks, tech stocks, etc., totaling trillions of dollars!💰
Once Japan raises interest rates, the cost of borrowing yen increases + the yen appreciates, squeezing the arbitrage space, and every

Tonight's non-farm payrolls have already pushed the market sentiment to the limit.
The current consensus is:
Unemployment rate at 4.4%, non-farm job gains around 50,000.
But the real danger isn't in the numbers themselves, but in—liquidity is too poor.
Once the data clearly signals a negative surprise, in this environment of insufficient depth and full leverage, BTC is likely not just "a correction," but a direct stall and plunge.
The most ideal scenario is actually just one: neither good nor bad news.
What’s more exciting is that tonight not only releases November data but also makes up for O