日本的20年政府债券收益率上升到2008年以来的最高水平

加密公牛可能需要支撑一些动荡，因为日本的20年政府债券收益率飙升至2008年以来的最高水平

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动荡，因为日本的20年政府债券收益率飙升至2008年以来的最高水平，这一举动历史上导致了诸如比特币（BTC）等风险资产的厌恶。

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.

日本政府债券（JGB）的收益率上周升至2.265％，这是自全球金融危机以来未见的水平，这是由于日本银行（BOJ）（BOJ）（BOJ）的猜测和通货膨胀压力的增加。

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.

这些条件与2024年8月的条件相似，在日元中的力量在当时报道的正如Coindesk所报道的那样。

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.

日本债券收益率激增，再加上地缘政治和经济不确定性，这引起了交易者的担忧，即BTC可能面临重大的纠正。较高的收益率表明，日本银行可能会提高利率控制通货膨胀或管理其大型公共债务。

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经济不确定性或更严格的财务状况。这创造了一个更强大的日元，可以减少携带交易的吸引力，在那里，投资者借日元投资于BTC等高产资产。

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，在接下来的几周内，贸易商将比特币的低点瞄准，这是在宏观经济的烦恼，持续的关税贸易战以及美国总统大选后普遍缺乏市场催化剂的情况下。

“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首席运营官杰夫·梅（Jeff Mei）在给科德斯克（Coindesk）的电报中说：“我们认为，地缘政治和经济不确定性正在导致机构削减其加密货币持有量，而比特币在未来几周内很可能会跌至70-80k的范围。”

“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.

梅补充说：“只有当这场关税战争结束和美联储恢复削减速度时，最高的加密货币才能恢复以前的历史高潮。” Mei补充说，这反映出对美国贸易政策的影响不断增加，而美联储对2025年利率降低的谨慎立场。

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的见解负责人奥古斯丁（Augustine）粉丝画了一幅严峻的技术图片：“价格动作在技术上已经变得非常负面，并且高度实现的波动性使BTC风险调整后的轮廓恶化了，很少有（如果有）立即（如果有）立即积极的催化剂。”

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.

范的评论与周日的Coindesk分析保持一致，该评论指出，BTC正在测试200天简单的移动平均线（SMA），而下方的近距离移动平均线（SMA）可能意味着在强大的支持趋势线中发生了关键的突破。