Bitcoin's volatility hit new highs in Japan as the BTC-JPY pair surpassed BTC-USD in 90-day realized volatility. This marks the first time since 2022
Bitcoin (BTC) volatility hit new heights in Japan last week, with the BTC-JPY pair surpassing BTC-USD in 90-day realized volatility for the first time since 2022.
This shift in volatility was largely driven by worsening market conditions in Japan, particularly following last week’s general elections.
The Japanese yen came under increasing pressure last week, with investors largely hesitant toward the yen as it approached multi-month lows. This weakness in the yen made Japanese assets, including BTC-JPY, more volatile, with the heightened volatility around the BTC-JPY pair reflecting this vulnerability and increased market uncertainty.
Japanese investors also largely hoped that the recent elections would stabilize the yen. However, this did not occur, and instead, markets grew more volatile, impacting major currency pairs, including BTC-JPY.
The BTC-JPY pair now has a realized volatility rate of over 50%, while BTC-USD remained slightly below 50%.
In contrast, the BTC-USD market remained relatively stable last week. Although the U.S. dollar faced pressures of its own, BTC-USD volatility was more controlled compared to BTC-JPY.
As the U.S. election approaches, however, traders are preparing for possible volatility spikes in the BTC-USD market, with analysts expecting that post-election developments could influence this pair’s stability.
The yen’s struggles raised concerns among Japanese investors, with the lack of interest in the yen continuing to be a major issue for buyers. Despite a general preference for safe assets, the yen's weak levels made it difficult to attract new interest. This sentiment pushed some investors toward alternative assets, contributing to the increased volatility of BTC-JPY.
Moreover, Bitcoin's role as a hedge against traditional markets also supported its popularity in Japan. Amid economic uncertainty, Japanese investors explored Bitcoin, a trend that amplified the BTC-JPY pair's volatility as market participants reacted to broader financial conditions.
With major elections in both Japan and the U.S., markets are bracing for more uncertainty. The yen's vulnerability, coupled with the upcoming U.S. election, presents a dynamic outlook for BTC traders globally. As BTC-JPY volatility surpasses BTC-USD, investors are watching both markets for potential shifts.
The above is the detailed content of BTC-JPY Volatility Surpasses BTC-USD for the First Time Since 2022 as Yen Struggles. For more information, please follow other related articles on the PHP Chinese website!

Ripple CEO Brad Garlinghouse expressed optimism regarding the future of stablecoins in Japan, particularly for a Yen-backed stablecoin.

This venture aims to prepare for the potential approval of Bitcoin BTC/USD and cryptocurrency exchange-traded funds in Japan.

The introduction of Bitget Wallet's native token, BWB, in the previous quarter has boosted its presence in Japan. The BWB token airdrop initiative contributed to this growth.

A key Bitcoin volatility indicator reached its highest level in 20 months after Bitcoin fell below $50,000, and futures traders now expect Bitcoin’s price might decline further.

XRP price has recently dipped, mirroring broader cryptocurrency market trends. Concerns over a potentially weak U.S. jobs report have led to market

The partnership was announced amid the frenzy of the Bitcoin Conference in Nashville, a strong signal about the growing influence of Bitcoin in Sakura Country.

Bitcoin price has soared past the $68K mark today, sparking market optimism. The surge in the crypto is driven by a recent Reuters report that Japan plans to unveil

Alvin Lang Aug 27, 2024 02:52 NVIDIA launches NIM microservices to support generative AI in Japan and Taiwan, enhancing regional language models and local AI applications.

Hot AI Tools

Undresser.AI Undress
AI-powered app for creating realistic nude photos

AI Clothes Remover
Online AI tool for removing clothes from photos.

Undress AI Tool
Undress images for free

Clothoff.io
AI clothes remover

AI Hentai Generator
Generate AI Hentai for free.

Hot Article

Hot Tools

Dreamweaver CS6
Visual web development tools

Notepad++7.3.1
Easy-to-use and free code editor

Safe Exam Browser
Safe Exam Browser is a secure browser environment for taking online exams securely. This software turns any computer into a secure workstation. It controls access to any utility and prevents students from using unauthorized resources.

SublimeText3 English version
Recommended: Win version, supports code prompts!

ZendStudio 13.5.1 Mac
Powerful PHP integrated development environment