I think the worst might not be over for #crypto.

Japan's 20-yr bond yield has reached 2.28%, its highest level since 2008.

What does this mean?

Last year, BOJ started hiking interest rates which caused the August crypto crash (famously known as Yen Carry Trade).

Japan has been known for zero interest rates for decades, which has resulted in investors borrowing cheap Yen to invest in stocks and other asset classes.

With bond yields going up, investors now need to cash out to pay the interest rate.

This is why the market crashed last year as investors dumped stocks and crypto to swap back into Yen.

With the 20-year bond yield rising to a 17-year high, I guess you need to be cautious.