December kicked off with Wall Street traders hitting the brakes. What's spooking the market? A cocktail of headwinds.

Crypto assets took another beating, continuing their recent tumble. Meanwhile, bond yields are climbing again - that's money flowing out of risk assets and into safer territory. The trigger? Japan's central bank just dropped hints about potentially tightening monetary policy soon.

This matters more than you'd think. When a major central bank like Japan's signals a hawkish shift, it sends ripples across global markets. Higher yields make bonds more attractive compared to volatile assets like stocks and digital currencies. The result? A risk-off mood settling over trading desks as investors reassess their positions heading into year-end.