The recent interest rate hike by the Bank of Japan has been followed by a rebound in Bitcoin, indicating that markets are now reassessing the impact of changing rate differentials on the pricing of risk assets.

From a capital flow perspective, while higher interest rates may reduce some liquidity preference, the resolution of policy uncertainty could also lead to a reallocation of funds back into high-volatility assets.

The future trajectory for Bitcoin will largely depend on whether macro trading continues to focus on interest rate spreads. If market expectations for the extent of future tightening stabilize, short-term sentiment may gradually recover.

Overall, the rate hike event itself has not altered the medium-term framework for digital assets, but it will continue to influence the pace of periodic valuation adjustments and shifts in risk appetite.