The Bank of Japan's last interest rate hike immediately boosted the Japanese yen exchange rate, followed by a rapid increase in overall market risk aversion. Looking back at that time, Bitcoin fell from $65,000 all the way down to $50,000, a significant drop. Now that the Bank of Japan is about to initiate a new round of rate hikes, investors are pondering—will there be another fierce shock this time? From past experience, yen appreciation often means funds shifting from risk assets to safe-haven assets. As a highly volatile asset, the crypto market is always the first to bear the brunt. How this will unfold this time remains to be closely watched, and market reactions are worth paying attention to.