{"id":16955,"date":"2025-03-10T09:02:11","date_gmt":"2025-03-10T09:02:11","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=16955"},"modified":"2025-03-10T09:02:11","modified_gmt":"2025-03-10T09:02:11","slug":"bitcoin-traders-now-target-70k-as-japan-bond-yields-surges-to-17-year-highs","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=16955","title":{"rendered":"Bitcoin Traders Now Target $70K as Japan Bond Yields Surges to 17-Year Highs"},"content":{"rendered":"
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Crypto bulls may need to brace for some turbulence as Japan\u2019s 20-year government bond yield surged to its highest level since 2008 in a move that has historically led to aversion from risk assets such as bitcoin (BTC).<\/p>\n

The Japanese Government Bond (JGB) yield climbed to 2.265% last week, a level not seen since the global financial crisis, amid speculation of potential rate hikes by the Bank of Japan (BOJ) and rising inflationary pressures.<\/p>\n

These are similar conditions to August 2024, where strength in the yen saw a global sell-off from equities to bitcoin, as CoinDesk reported<\/a> at the time. <\/p>\n

A surge in Japanese bond yields, coupled with geopolitical and economic uncertainties, is fueling concerns among traders that BTC could face a significant correction. Higher yields indicate that the Bank of Japan may raise interest rates to control inflation or manage its large public debt.<\/p>\n

Rising yields in Japan often signal broader global economic uncertainty or tighter financial conditions. This creates a stronger yen, which can reduce the appeal of carry trades, where investors borrow in yen to invest in higher-yielding assets like BTC<\/a>.<\/p>\n

As such, traders are targeting a low of $70,000 for bitcoin in the coming weeks amid macroeconomic jitters, an ongoing tariff trade war and the general lack of market catalysts after a run-up to the U.S. presidential elections.<\/p>\n

\u201cWe believe that the geopolitical and economic uncertainty is causing institutions to pare down their crypto holdings, and Bitcoin could very well drop to the $70-80k range in the coming weeks,\u201d Jeff Mei, Chief Operating Officer at BTSE, said in a Telegram message to CoinDesk.<\/p>\n

\u201cOnly when this tariff war ends and the Fed resumes cutting rates will top cryptocurrencies resume trending towards previous all-time highs,\u201d Mei added, reflecting growing apprehension about the impact of U.S. trade policies nd the Federal Reserve\u2019s cautious stance on interest rate cuts in 2025.<\/p>\n

Elsewhere, Augustine Fan, Head of Insights at SignalPlus, painted a grim technical picture: \u201cPrice action has turned technically very negative, and the high realized volatility has worsened the BTC risk-adjusted profile, with few (if any) immediate positive catalysts on the horizon.\u201d<\/p>\n

Fan\u2019s comments align with a CoinDesk analysis<\/a> on Sunday, which noted that BTC is testing the 200-day simple moving average (SMA) and a close below it could mean a critical break in a strong support trendline.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Crypto bulls may need to brace for some turbulence as Japan\u2019s 20-year government bond yield surged to its highest level since 2008 in a move that has historically led to aversion from risk assets such as bitcoin (BTC). The Japanese Government Bond (JGB) yield climbed to 2.265% last week, a level not seen since the […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-16955","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/16955","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=16955"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/16955\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=16955"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=16955"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=16955"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}