Bitcoin Breaks New Records Amid Japan Bond Market Crisis

Bitcoin’s recent surge to new all-time highs, exceeding $112,000 on May 22 before retracing to over $109,700 at press time, may be linked to a concerning situation in Japan’s bond market. This development suggests Bitcoin could be gaining recognition as a hedge against financial instability, particularly within the traditional finance (TradFi) system. While geopolitical factors like Russia-Ukraine ceasefire talks on May 19 might have played a role, analysts point towards macroeconomic forces driving this price increase.