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Analysis: Panic in the Japanese government bond market has spread to the crypto market

Analysis: Panic in the Japanese government bond market has spread to the crypto market

PANewsPANews2026/01/20 14:09
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PANews, January 20—According to CoinDesk, panic in the Japanese government bond market has spilled over into the cryptocurrency market. On Tuesday, the 30-year Japanese government bond yield surged more than 30 basis points to 3.91%, reaching a 27-year high and triggering a global sell-off in risk assets.

The head of commodity strategy at Saxo Bank pointed out that Japan has long been one of the world's most reliable sources of liquidity, and the continued surge in its government bond yields means this support is fading, which will lead to a tightening of global liquidity. This change, combined with factors such as Trump's tariff threats, has intensified risk-off sentiment in the market. As a result, the price of bitcoin fell below $91,000, while gold and silver continued to reach new all-time highs. Analysts believe that the Bank of Japan has limited policy options, and whether it tries to suppress yields or tighten monetary policy, it may further exacerbate global liquidity strains. The market is concerned that a continued rise in yields could ultimately trigger a "fracture" in the financial system.

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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