Glassnode Analysis: Bitcoin May Flourish Under Japanese Policy Pressure

According to Ha Shilian News, Glassnode co-founder Negentropic analyzed the impact of Japan's interest rate hikes on the X platform, pointing out that market concerns stem from uncertainty rather than tightening. Market volatility can sometimes be an opportunity. The Bank of Japan's normalization policy brings clarity to global capital markets, and Bitcoin often thrives after experiencing policy pressure.
Previous analyses suggested that Japan's interest rate hikes might not trigger risk aversion in the crypto market. Firstly, investors currently hold a net long (bullish) position in Japanese yen, making a quick reaction to the BOJ's rate hikes unlikely. Secondly, Japan's government bond yields have continued to rise this year, with both short-term and long-term yield curves reaching multi-decade highs. The upcoming rate hike reflects official rates catching up with market levels, indicating a lower likelihood of risk-off sentiment by the end of the year.

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