$BTC It may be a coincidence, but the recent decline in the Nasdaq and bitcoin (BTC) coincides with a sharp rise in Japanese government bond yields and the strengthening of the safe-haven Japanese yen (JPY), reminiscent of the market dynamics seen in early August.

There could be a causation here, as, for decades, the low-yielding yen propped up global asset prices. The ongoing rise in the Japanese yen may have had a hand in the recent risk aversion on Wall Street and in the crypto market