Short-term Japanese yields reached their highest level since 2008, strengthening the yen and pressuring leveraged crypto positions during Hong Kong trading hours.
Asia Morning Briefing: Bitcoin Slides on Japan Bond Spike and BOJ Hike Bets
Short-term Japanese yields reached their highest level since 2008, strengthening the yen and pressuring leveraged crypto positions during Hong Kong trading hours.
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The hardening of the yield follows a dismal bond auction that saw below-average demand for 20-year government debt.
Support has been established in the $3.91-$3.93 range, with resistance between $4.03-$4.07.
VanEck's David Schassler expects gold and bitcoin to rebound sharply as investor demand for hard assets is expected to rise.
BTC rebounds after plunging on U.S. tariff headlines, with strong volume support emerging near $103K and fresh institutional bids helping stabilize the market.