"Bitcoin Shows Stronger Correlation With Japanese Long-Term Bond Yields Than With US Stocks"
Son Min
Summary
- It was noted that Bitcoin's price movement has recently shown a high correlation with the Japanese 30-year government bond yield.
- Analyst Weston Nakamura reported that while Bitcoin's correlation with American risk assets has weakened, it is displaying a similar trend to Japanese long-term government bond yields.
- It was stated that the long-term government bond yield in Japan could serve as a benchmark for predicting Bitcoin's price volatility.
There are claims that the price movement of Bitcoin (BTC) shows a stronger correlation with Japanese 30-year government bond yields than with risk assets like the NASDAQ.
On the 2nd (local time), global market analyst Weston Nakamura stated on X (formerly Twitter), "Recently, Bitcoin's correlation with risk assets has weakened, while it has shown a similar trend to Japanese long-term government bond yields."
He went on to say, "Whenever Bitcoin surges or undergoes corrections, it tends to follow the yield of Japan's 30-year government bonds," adding, "It almost seems as if Japanese bond yields serve as a gauge for Bitcoin's price."
Son Min
sonmin@bloomingbit.ioHello I’m Son Min, a journalist at BloomingBit
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