When the yen raises interest rates, Bitcoin skyrockets. As soon as the US stock market opens, BTC and ETH dump.
Why?
For the past 10 years, Japan's interest rates have been basically 0 or even negative, making Japan the place with the cheapest money in the world. Institutions (mainly Japanese auntie trusts and hedge funds) have done something like this:
1. Borrow a lot of yen (interest is almost free)
2. Exchange for USD
3. Fully invested in high-risk assets: the seven sisters of US stocks, emerging market stocks, Bitcoin, ETH... just buy wherever it goes crazy.
4. Every year, easily gain

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Bitcoin has already bottomed out, and you can no longer buy Bitcoin at 83K.

This month, the US will end quantitative tightening, and the market will reintroduce a large amount of liquidity. At the same time, as Christmas approaches, there will be a wave of pump行情. Today, Bitcoin can continue to buy the dip at 86K, and it is currently in profit. Looking forward to breaking 150K by the end of the month.

On December 30, BTC broke through 150,000.

Bitcoin has fallen back to 87,000. I finally understand why so many people like to Short. Opening a long position takes a few days to earn 1x, but opening a Short, I woke up after one night and earned 20x. Now I'm ready to Short everything.

Let's follow each other back, and return the follow when you see it.

Shopify has also laid off employees, and it is getting increasingly difficult.