The yen outperforms all its major peers ahead of the Bank of Japan’s widely anticipated move to lift its benchmark interest rate this week https://t.co/jW74F1uK5I ...

Key Points New macro concerns have investors in a sell first, ask questions later mood. Investors are now pricing in some near-term volatility tied to currency-related bets which may get unwound. Additionally, heavy liquidation activity and more U.S. economic data set to be released appears to have investors on edge. 10 stocks we like better than Bitcoin › After minting a fresh all-time high in October of a little more than $126,000 per token, Bitcoin (CRYPTO: BTC) has since declined more than 3 ...

Governor Kazuo Ueda is widely expected to raise the Bank of Japan’s key rate to the highest level in three decades on Friday https://t.co/f5vs7ub0JT ...

Market Overview - The cryptocurrency market experienced a significant decline, with major digital assets falling sharply and liquidations increasing, undermining expectations for a year-end "Santa rally" [1][12] - Bitcoin's price dropped over 3% in 24 hours, falling from nearly $90,000 to approximately $85,833, marking its lowest level since December 1 [2][13] - Ethereum and XRP also saw declines, with Ethereum down more than 4% to around $2,955 and XRP falling roughly 4.5% to $1.90, its weakest price this month [3][12] Liquidations - The sell-off resulted in a surge of liquidations, with approximately $573 million in crypto positions wiped out in the last 24 hours, predominantly from long positions totaling around $486 million [4][5] - Bitcoin led the liquidations with about $205 million, followed by Ethereum at approximately $156 million [5][4] Stock Market Reaction - The overall cryptocurrency market lost more than 3% of its value in a single day, contrasting with minimal movement in stock markets, where the S&P 500 was down about 0.1% and the Nasdaq slipped roughly 0.3% [7][12] Impact on Crypto-Related Stocks - Crypto-related stocks faced significant pressure, with Bitcoin miner CleanSpark falling about 15%, crypto exchange Gemini down 12%, and Ethereum treasury firm BitMine Immersion Technologies down roughly 8% [8][14] - Coinbase shares slid more than 5%, while Robinhood experienced a decline of less than 2% [8][14] Market Sentiment and Accusations - As prices fell, there were accusations of coordinated selling on social media, with claims that entities like Binance and Wintermute were involved in dumping large amounts of Bitcoin, leading to over $100 million in long positions being liquidated in minutes [9][14] - Some analysts argued that the sell-off was a result of normal liquidity flows and user-driven selling rather than manipulation [9][14] International Developments - Traders are monitoring developments from Japan, where the Bank of Japan has indicated it may start selling portions of its exchange-traded fund holdings as early as January, potentially affecting market dynamics [10][11] - The anticipated gradual sell-off of about $2.1 million to $2.3 million per year aims to avoid unsettling markets, with implications for the yen carry trade as Japanese bond yields rise [11][10]

Core Viewpoint - Bitcoin has experienced a significant decline, dropping to the $85,000 level, which has resulted in a loss of over $100 billion from the total crypto market cap, raising concerns about the continuation of the sell-off [1] Group 1: Macro Drivers - The primary macro driver for the decline in Bitcoin prices is the anticipated rate hike by the Bank of Japan, which would bring Japanese policy rates to levels not seen in decades [2] - The yen carry trade, which has historically fueled global risk markets, is unwinding as Japanese rates rise, leading investors to sell risk assets, including Bitcoin, to repay yen liabilities [3] Group 2: Historical Patterns - Bitcoin has historically reacted sharply to Bank of Japan rate hikes, with previous instances showing declines of 20% to 30% in the weeks following such hikes [3] - Traders have begun to price in this historical pattern ahead of the expected rate decision, contributing to the downward pressure on Bitcoin [3] Group 3: US Economic Data - Concurrently, uncertainty surrounding US economic data, including inflation and labor market figures, has led traders to pull back on risk [4] - The Federal Reserve's recent rate cuts, coupled with cautious signals about future easing, have made Bitcoin more sensitive to liquidity and macroeconomic conditions rather than serving as a standalone hedge [4]

The Bank of Japan is expected to begin selling its ETF holdings as early as January, starting a gradual process that could take decades to complete. The holdings had a market value of ¥83 trillion ($534 billion) at the end of September and a book value of ¥37.1 trillion. https://t.co/2XNsSjcMej ...

Let's focus on this busy roster of central banks data. What do you think has the power to surprise Paul. Where are we going to see some volatility being created.Yeah. Hi there. Well, so lots of potential volatility in the fixed rate space this week.It all spins around off of the Fed. Of course, the Fed cutting last week, but then sort of signaling that it might be going on hold for a little bit of time. So that gives the market a time to calibrate where other central banks are going relative to the Fed.The ...

The Bank of Japan indicated further progress on wages, a key consideration that effectively cements the case for a rate hike this week https://t.co/ZziMCkdH09 ...

RT zerohedge (@zerohedge)*BOJ IS SAID TO START SELLING ETF HOLDINGS AS EARLY AS JANUARY ...

Bank of Japan officials are likely to start selling the central bank’s pile of exchange-traded funds as early as next month, according to people familiar with the matter, a process expected to take decades to complete https://t.co/hRjp5WTCxH ...