Former BitMEX CEO Arthur Hayes tweeted hours before decision: ‘Don’t fight the BOJ: -ve real rates is the explicit policy. $JPY to 200, and $BTC to a milly.’ Hayes was RIGHT. He understood what market missed: BoJ policy is STILL loose in real terms. Negative real rates = currency debasement = capital flows to hard assets like Bitcoin. The rate hike was BULLISH because it confirmed BoJ can’t actually tighten without breaking Japanese economy.

Markets realized the CPI is FAKE, Fed rate cut odds DIDN'T BUDGE (still 24% for January), and BTC gave back ALL gains plus more. Now at $86K heading into BoJ tomorrow—the REAL catalyst. Wednesday's $457M ETF inflows reversed meaning. Whales who bought Wednesday got REKT today. This market PUNISHES conviction. Tomorrow's BoJ decision will decide: $70K breakdown or $95K breakout.