Since the Federal Reserve began raising interest rates in 2022, the Japanese yen has experienced significant depreciation, leading to increased exchange rate turbulence. Traders on Japanese digital asset exchanges are seeking refuge in bitcoin, considered a hedge against traditional finance. Data from Paris-based Kaiko reveals that the share of bitcoin trade volume on Japanese exchanges has risen from 69% to 80% in the first half of this year, reaching $4 billion in June, a 60% YTD increase. This trend is fueled by the yen's decline against the U.S. dollar and Japan's regulatory framework for cryptos.