日本的20年政府債券收益率上升到2008年以來的最高水平

加密公牛可能需要支撐一些動盪，因為日本的20年政府債券收益率飆升至2008年以來的最高水平

Crypto bulls may need to brace for some turbulence as Japan’s 20-year government bond yield surged to its highest level since 2008 in a move that has historically led to aversion from risk assets such as bitcoin (BTC).

加密公牛可能需要做出一些動盪，因為日本的20年政府債券收益率飆升至2008年以來的最高水平，這一舉動歷史上導致了諸如比特幣（BTC）等風險資產的厭惡。

The Japanese Government Bond (JGB) yield climbed to 2.265% last week, a level not seen since the global financial crisis, amid speculation of potential rate hikes by the Bank of Japan (BOJ) and rising inflationary pressures.

日本政府債券（JGB）的收益率上周升至2.265％，這是自全球金融危機以來未見的水平，這是由於日本銀行（BOJ）（BOJ）（BOJ）的猜測和通貨膨脹壓力的增加。

These are similar conditions to August 2024, where strength in the yen saw a global sell-off from equities to bitcoin, as CoinDesk reported at the time.

這些條件與2024年8月的條件相似，在日元中的力量在當時報導的正如Coindesk所報導的那樣。

A surge in Japanese bond yields, coupled with geopolitical and economic uncertainties, is fueling concerns among traders that BTC could face a significant correction. Higher yields indicate that the Bank of Japan may raise interest rates to control inflation or manage its large public debt.

日本債券收益率激增，再加上地緣政治和經濟不確定性，這引起了交易者的擔憂，即BTC可能面臨重大的糾正。較高的收益率表明，日本銀行可能會提高利率控制通貨膨脹或管理其大型公共債務。

Rising yields in Japan often signal broader global economic uncertainty or tighter financial conditions. This creates a stronger yen, which can reduce the appeal of carry trades, where investors borrow in yen to invest in higher-yielding assets like BTC.

日本的收益率上升通常表明全球經濟不確定性或更嚴格的財務狀況。這創造了一個更強大的日元，可以減少攜帶交易的吸引力，在那裡，投資者藉日元投資於BTC等高產資產。

As such, traders are targeting a low of $70,000 for bitcoin in the coming weeks amid macroeconomic jitters, an ongoing tariff trade war and the general lack of market catalysts after a run-up to the U.S. presidential elections.

因此，在接下來的幾週內，貿易商將比特幣的低點瞄準，這是在宏觀經濟的煩惱，持續的關稅貿易戰以及美國總統大選後普遍缺乏市場催化劑的情況下。

“We believe that the geopolitical and economic uncertainty is causing institutions to pare down their crypto holdings, and Bitcoin could very well drop to the $70-80k range in the coming weeks,” Jeff Mei, Chief Operating Officer at BTSE, said in a Telegram message to CoinDesk.

BTSE首席運營官傑夫·梅（Jeff Mei）在給科德斯克（Coindesk）的電報中說：“我們認為，地緣政治和經濟不確定性正在導致機構削減其加密貨幣持有量，而比特幣在未來幾週內很可能會跌至70-80k的範圍。”

“Only when this tariff war ends and the Fed resumes cutting rates will top cryptocurrencies resume trending towards previous all-time highs,” Mei added, reflecting growing apprehension about the impact of U.S. trade policies nd the Federal Reserve’s cautious stance on interest rate cuts in 2025.

梅補充說：“只有當這場關稅戰爭結束和美聯儲恢復削減速度時，最高的加密貨幣才能恢復以前的歷史高潮。” Mei補充說，這反映出對美國貿易政策的影響不斷增加，而美聯儲對2025年利率降低的謹慎立場。

Elsewhere, Augustine Fan, Head of Insights at SignalPlus, painted a grim technical picture: “Price action has turned technically very negative, and the high realized volatility has worsened the BTC risk-adjusted profile, with few (if any) immediate positive catalysts on the horizon.”

在其他地方，SignalPlus的見解負責人奧古斯丁（Augustine）粉絲畫了一幅嚴峻的技術圖片：“價格動作在技術上已經變得非常負面，並且高度實現的波動性使BTC風險調整後的輪廓惡化了，很少有（如果有）立即（如果有）立即積極的催化劑。”

Fan’s comments align with a CoinDesk analysis on Sunday, which noted that BTC is testing the 200-day simple moving average (SMA) and a close below it could mean a critical break in a strong support trendline.

範的評論與週日的Coindesk分析保持一致，該評論指出，BTC正在測試200天簡單的移動平均線（SMA），而下方的近距離移動平均線（SMA）可能意味著在強大的支持趨勢線中發生了關鍵的突破。