This looks to remain the case through to 2026, despite stupid Tangerine bluster about Bitcoin reserves. Here’s what’s behind the dying quail, according to CoinDesk:
. . .Japan’s 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 global financial crisis, amid speculation of potential rate hikes by the Bank of Japan (BOJ) and rising inflationary pressures.
These are similar conditions to August 2024, where strength in the yen saw a global sell-off from equities to bitcoin, as CoinDesk reported at the time. . . .
The central factor driving this unease and continuing/accelerating “risk off” sentiment is the mercurial (often irrational) moves out of DC’s 1600 Penn.
So -- expect a middle- $7 ish handle for Riot this week.
Hilarious. [But in better news, we may see a Vandenberg AFB launch of SPHEREx late tonight. All of this, with an arrival -- back from three months in Brazil -- of my babygirl. . . by morning! Woot-woot!]
नमस्ते
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