Bitcoin and Japanese Yen exhibit a rare 90-day synchronized high phenomenon

2026-01-13 10:15:40

Abstract generation in progress

Recent market data shows a noteworthy phenomenon: the correlation between Bitcoin and the Japanese Yen has risen to a historic high. According to statistics provided by TradingView, the correlation coefficient between the two over the past three months has reached 0.86, which is quite significant.

The Implications Behind the Data

What does this correlation indicator suggest? In simple terms, during the recent 90 days of Bitcoin price fluctuations, 73% of its movement has been synchronized with the Yen’s trend. To more accurately assess the Yen’s performance, the market uses the JPY index provided by Pepperstone, which monitors the strength and weakness of the Yen against major currencies such as the Euro, US Dollar, Australian Dollar, and New Zealand Dollar.

What Has Changed About This Synchronization

When the correlation reaches such a high level, Bitcoin—traditionally used for portfolio diversification—has its independence significantly diminished. In other words, Bitcoin has been behaving more like an asset influenced by Yen fluctuations rather than an independent safe-haven asset during this period. This shift is highly significant for investors relying on crypto assets for risk diversification.

The Root Cause

The Yen has been relatively weak since April, primarily due to concerns over the sustainability of Japanese government bonds. These concerns have simultaneously suppressed the Yen’s performance and Bitcoin’s price, creating this unusual high correlation. It is this external pressure acting on both markets that has led to their rare synchronized movement.

Questions Worth Considering

Although current data shows this correlation pattern, historical experience reminds us that the correlation between crypto assets and traditional financial assets tends to be cyclical. Changes in market conditions, policy adjustments, or the emergence of new economic signals could break this existing synchronization and trigger a new round of market restructuring.

BTC1,55%

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