Signs indicate that Ethereum may face selling pressure. This raises an interesting question—can Japan's recent interest rate hike truly have a substantial impact on the market? Or are these data just surface-level articles?

The current ETH sell-off may indeed reflect a phenomenon. If Japan's rising interest rates have indeed affected the liquidity environment, then this wave of selling could stem from two directions: one is a proactive adjustment to macro environmental changes, and the other is simply taking profits. From a trading perspective, reducing Ethereum holdings at this point could be an early response to policy changes or just a realization of previous gains. The market logic is often that simple—some are optimistic, some are exiting.