Here is the chart only a few people are looking at.
Whenever BoJ hikes rates, carry trade unfolds and causes a surge in USDJPY and DXY and a crash on risk-on assets. The last 2 times USDJPY got too high, BoJ intervened and lowered the rate. In these periods, Bitcoin had a relief. Last year was actually a very bullish run for Bitcoin and altcoins.
The sudden increases in Japanese 30-year bond yields are causing spikes in the VIX index and during these volatile times, Bitcoin crashes.
The BoJ meeting is on the 18th of December however the effects are already getting priced in.
If the BoJ intervenes somehow, it will relieve the US indices and Bitcoin.
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
Here is the chart only a few people are looking at.
Whenever BoJ hikes rates, carry trade unfolds and causes a surge in USDJPY and DXY and a crash on risk-on assets. The last 2 times USDJPY got too high, BoJ intervened and lowered the rate. In these periods, Bitcoin had a relief. Last year was actually a very bullish run for Bitcoin and altcoins.
The sudden increases in Japanese 30-year bond yields are causing spikes in the VIX index and during these volatile times, Bitcoin crashes.
The BoJ meeting is on the 18th of December however the effects are already getting priced in.
If the BoJ intervenes somehow, it will relieve the US indices and Bitcoin.