Recently, as the expectations of interest rate hikes from the Bank of Japan came out, the global market began to deleverage directly. The encryption circle also could not escape this wave of impact.

BTC once plummeted, but look, gold actually rose – safe-haven funds are still flowing to old places. What does this indicate? When the market is in panic, everyone’s first reaction is that traditional safe-haven assets are more stable.

Looking back at the data from two weeks ago, the encryption market as a whole has been declining. In the segmented tracks, the AI concept, DePIN infrastructure, and L2 expansion solutions have seen particularly obvious declines.

In simple terms, the core logic of this round of adjustment is: once Japan tightens its monetary policy, global liquidity expectations deteriorate, and high-risk assets naturally suffer first. The encryption market, as a high Beta asset, is normal to fall harder than traditional markets.