Bitcoin Plummets Amidst Bond Surge and Yen Decline

Bitcoin experienced a significant drop after reaching its all-time high of $126,200. This decline was driven by the sharp increase in Japanese government bond yields and the depreciation of the yen. While Bitcoin had enjoyed a record run fueled by Prime Minister Sanae’s announcement of a potential revival of Abenomics, market dynamics shifted as investors anticipated higher bond supply and fluctuating global interest rates. Gold also rose above $4,000 per ounce, signaling a shift towards safe-haven assets.