Japan's ¥11.7T intervention? Dead on arrival.
$USD/$JPY up another 2.29% despite massive BoJ firepower + U.S. backing. When you burn that much capital and the market just shrugs, you're fighting a losing battle.
The yen keeps bleeding out.
Here's what matters for us:
If yen weakness accelerates, we're looking at potential carry trade unwinds and liquidity shocks across risk assets. That means volatility spikes in equities, bonds, and yes—crypto.
Watch $BTC correlation to macro liquidity closely. If Japan loses control, we could see either:
• Flight to hard assets (bullish $BTC)
• Forced deleveraging (short-term pain)
Market's screaming something loud. Don't ignore it.
$USD/$JPY up another 2.29% despite massive BoJ firepower + U.S. backing. When you burn that much capital and the market just shrugs, you're fighting a losing battle.
The yen keeps bleeding out.
Here's what matters for us:
If yen weakness accelerates, we're looking at potential carry trade unwinds and liquidity shocks across risk assets. That means volatility spikes in equities, bonds, and yes—crypto.
Watch $BTC correlation to macro liquidity closely. If Japan loses control, we could see either:
• Flight to hard assets (bullish $BTC)
• Forced deleveraging (short-term pain)
Market's screaming something loud. Don't ignore it.