Group 1 - Arthur Hayes predicts that instability in the Japanese yen could lead to a significant rally in Bitcoin due to structural stress in Japan's economy [1][2] - The concurrent weakening of the yen and rising Japanese Government Bond (JGB) yields may prompt intervention from the U.S. Treasury and the Federal Reserve, injecting liquidity into the market [2][3] - This liquidity injection could ease pressure on U.S. Treasury yields and provide short-term support for risk assets, including Bitcoin, potentially breaking its current stagnation [3][4] Group 2 - Japan's economic pressures, including a depreciating yen and rising JGB yields, are causing financial stresses that could have global repercussions [4][6] - The U.S. Federal Reserve may respond by printing more dollars and purchasing Japanese bonds, which would add liquidity to the markets and potentially drive up the prices of Bitcoin and other cryptocurrencies [6][7] - The New York Fed's strategy of creating new bank reserves by printing dollars to swap for yen aims to gradually appreciate the yen and lower JGB yields, thus managing interest rate risks [7]