The Federal Reserve just finished singing the "hawkish rate cut," and the Bank of Japan's rate hike in December is about to land. The last pool of cheap money in the world is about to hit the bottom.

What does this mean for the crypto world? Three key directions to watch closely:

Funds are oscillating back and forth between the US and Japan. While one side is easing liquidity and the other is tightening, where is the money flowing? Large capital is now reconfiguring, seeking a new equilibrium.

Volatility will definitely spike. When policy directions are diverging—one going east, the other west—the market is most prone to getting slapped from both sides—one day pushing up, the next day smashing down, with swings so intense they make you question your life.

The attitude of Asian funds is crucial. If Japan really stabilizes the yen, those arbitrage positions based on interest rate differentials might start to retreat, and liquidity during the Asia-Pacific trading hours could become uncertain.

In the next roughly month, the market will likely fluctuate repeatedly as it digests these two developments. Don't expect main cryptocurrencies like BTC, ETH, SOL to trend unilaterally in the short term; high volatility and oscillation will be the main tone. Remember one thing: staying alive is more important than anything else, and let the market give the answer itself.