#比特币价格走势 Yen arbitrage contraction is a signal that should not be ignored. Recently, based on Glassnode's analysis, the core logic is: the market is not afraid of tightening, but of uncertainty. The normalization of the Bank of Japan's policy has instead provided a clear outlook for the global financing environment. Short-term leverage may face pressure, but chaos decreases and signals strengthen.

What does this mean for us? Volatility is an opportunity. Historical experience shows that Bitcoin often does not strengthen before policy pressure is released, but rebounds after the pressure is eased. In other words, when uncertainty gradually dissipates, it often signals the emergence of asymmetric upside risk.

The most practical advice is: if you hold a position, don't rush to sell; if you're still observing, pay attention to further signals from policy developments. The release of policy pressure is a clear reference point; it’s not too late to follow up then. There are indeed opportunities amid the current chaos, but more importantly, it’s about identifying genuine turning signals rather than preemptively overestimating expectations.