日元日元继续对美元持续强劲增长，因为投资者接受了其作为避风港资产的作用。

USD/JPY汇率在周二下跌至139.92，其最低水平是自去年9月以来的最低水平，比2024年的最高点低11.5％。

The Japanese yen continued its strong surge against the U.S. dollar on Tuesday as investors focused on the role of the Asian currency as a safe-haven asset.

日元周二，日元在周二对美元的强劲增长继续，投资者专注于亚洲货币作为避风港资产的作用。

By 07:17 ET (11:17 GMT), the USD/JPY pair dropped to 139.92, reaching its lowest point since September last year and trading 11.5% below the 2024 high.

到了07:17 ET（格林尼治标准时间11:17），USD/JPY对降至139.92，达到了自去年9月以来的最低点，比2024年高的高点交易11.5％。

This decline follows the broader weakness of the U.S. dollar and a surge in other developed-world currencies such as the euro, British pound, and Swiss franc. The Relative Strength Index for the US dollar Index, a popular gauge that weighs its performance against a basket of currencies, fell to 98, hitting the lowest level since April 2022.

这种下降是在美元的弱点和其他发达国家货币（例如欧元，英镑和瑞士法郎）的激增之后的衰落。美元指数的相对强度指数是一种流行的量规，其性能与一篮子货币的表现相比下降到98，达到了自2022年4月以来的最低水平。

The ongoing yen rally is having a broader impact on equities, Bitcoin, and altcoins. In an X post, BitMEX co-founder Arthur Hayes said that this performance will push leveraged traders to unwind positions in U.S. stocks and bonds, ultimately leading to higher bond yields.

持续的日元集会对股票，比特币和山寨币产生更大的影响。 Bitmex联合创始人亚瑟·海斯（Arthur Hayes）在X帖子中说，这种绩效将促使杠杆交易者在美国股票和债券中放松职位，最终导致债券收益率更高。

I know Team Trump wants a weaker dollar, but a rapidly strengthening $JPY causes leveraged traders to unwind positions in US stocks and bonds. Thankfully $BTC knows that if bond yields rise, the BBC must print money. Yachtzee 😘😘😘😋😋 pic.twitter.com/9PAY40b2O5

我知道特朗普团队想要一美元​​，但迅速加强$ JPY会导致杠杆交易者在美国股票和债券中放松头寸。值得庆幸的是，$ BTC知道，如果债券收益率上升，英国广播公司必须打印资金。 Yachtzee😘😘😘😋😋pic.twitter.com/9pay40b2o5

There are already early signs this is unfolding. U.S. stock prices have sharply declined, with the Nasdaq 100, S&P 500, and Dow Jones indices falling into technical correction territory.

已经有早期的迹象正在发展。美国股票价格急剧下降，纳斯达克100，标准普尔500指数和道琼斯指数属于技术更正领域。

According to the Financial Times, Japanese investors have offloaded over $20 billion in international bonds. Most of these sales were in US government bonds. These activities are closely observed because Japan is the biggest holder of U.S. debt, amounting to $1.1 trillion.

根据《金融时报》的报道，日本投资者已将超过200亿美元的国际债券卸载。这些销售中的大多数都是在美国政府债券中。由于日本是美国债务最大的持有人，因此仔细观察了这些活动，总计为1.1万亿美元。

A key driver behind these sales is the strength of the yen and rising bond yields in Japan. The country’s 10-year government bond yield has risen to 1.30%, sharply higher than the lows seen last year.

这些销售背后的主要推动力是日元和日本债券收益率上升的实力。该国的10年政府债券收益率上升至1.30％，比去年的低点高。

Bitcoin is slowly becoming a safe haven

比特币正在慢慢成为避风港

According to Hayes, the surging yen and the plunging US dollar will benefit Bitcoin (BTC) as the Federal Reserve will be forced to print money using quantitative easing.

根据海斯的说法，日元和下跌的美元将使比特币（BTC）受益，因为美联储将被迫使用量化宽松打印资金。

Meanwhile, there are increasing signs that Bitcoin is gradually evolving into a safe-haven asset. Spot Bitcoin ETFs recorded over $381 million in inflows on Monday, following $107 million on Friday. These inflows coincided with a sharp drop in the Dow Jones Industrial Average, which fell by more than 1,000 points.

同时，有越来越多的迹象表明比特币正在逐渐发展为避风港资产。周一，现场比特币ETF在周一的1.07亿美元中记录了超过3.81亿美元的流入。这些流入与道琼斯工业平均水平的急剧下降相吻合，后者下降了超过1,000点。

Bitcoin has also dropped by less than 3% this year, while the top U.S. indices have fallen by double digits. As such, some analysts believe that it will eventually evolve into a safe-haven asset, similar to gold.

今年比特币也下降了不到3％，而美国最高指数则以两位数下降。因此，一些分析人士认为，它最终将发展成为类似于黄金的避风港资产。

Such a move would likely lead to higher altcoin prices. Throughout history, altcoins like Ethereum (ETH), Solana (SOL), and Pepe (PEPE) have typically performed well during periods of strong Bitcoin performance.

这样的举动可能会导致较高的Altcoin价格。在整个历史上，诸如以太坊（ETH），Solana（Sol）和Pepe（Pepe）之类的Altcoins通常在强劲的比特币性能期间表现良好。