CandleFocus Bitcoin Volatility in Japan Hits 2-Year High Amid Yen Instability, Trading Volumes Plummet by 50%
2024-10-10
Author: Content Editor
The volatility of the Japanese Yen has had a significant impact on the Japanese Bitcoin market, causing traders to approach the crypto market with caution and reducing trading volumes. The volatility of the BTC/JPY trading pair even surpassed that of BTC/USD, which has not happened in two years. The instability of the yen can be attributed to monetary policy changes, comments from the newly appointed Prime Minister, and external factors such as U.S. economic data and geopolitical tensions. As a result, daily trading volumes on Japanese exchanges have remained flat, while volumes on U.S. and South Korean exchanges have increased.
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