Overnight, many people's positions shrank. That deep night gap-down candlestick looks like a cold knife stabbing straight into the hearts of holders.

The root cause is simple: the Bank of Japan (BOJ) is once again talking about raising interest rates. Around 10 a.m. today, Tokyo will announce its decision. But there's a question that confuses many—how can a small East Asian country's central bank decision cause the entire global market for Bitcoin, Ethereum, and even the altcoin market to plummet simultaneously?

The logic behind this is actually quite straightforward. Over the past decade, global hot money has been playing a classic game: borrowing cheap yen and then swooping in to buy high-yield assets worldwide. The cryptocurrency market is precisely the part of this capital pool that attracts the most international capital. Now that Japan is about to raise interest rates, the cost of borrowing jumps accordingly. International capital teams holding massive yen-denominated debt's first reaction is to sell all risk assets to pay off their debts. Whether it's Bitcoin or altcoins, they all have to be sold—this isn't some market manipulator smashing the market; it's a macro rate-driven global capital exodus. Your holdings, in this massive transfer, are really just a weed stepped on in the process.

So the question is: in the face of such volatility, besides holding firm or cutting losses and fleeing, is there any other way?

Many choose the path of "continuing to go long,坚持DCA分批买入" (dollar-cost averaging in batches). This requires strong confidence and even greater patience; that courage is truly admirable. But a more practical dilemma is: during the long period of weekly incremental investments and waiting for the market to stabilize, where should the remaining funds in your account be allocated? Risky to leave them on the exchange? Convert to fiat to withstand inflation erosion? Or find some smarter "standby mode"? These questions are the real tests of an investor's skill.