US Treasury Secretary Basent urges Japan to raise interest rates to curb yen depreciation

US Treasury Secretary Vincent Besant urged Japan to raise interest rates to curb the depreciation of the yen, a traditional monetary policy vulnerable to government and external factors. Bitcoin monetary policy is pre-set by code, and new coin issuance follows a fixed rhythm and halves about every four years, providing greater predictability. Bitcoin is hard to shake off the impact of traditional financial markets in the short term. If Japan raises interest rates to push the yen to appreciate rapidly, the unwinding of low-interest yen financing transactions will trigger selling of stocks, bonds and encrypted assets. In August 2024, the Bank of Japan raised interest rates to strengthen the yen, putting pressure on risky assets, including bitcoin. On the technical side, the BTC50-day moving average continues to rise and is close to crossing the 200-day moving average. The moving average has lag, and the historical forecast effect of the gold cross as an independent indicator is unstable.