Arthur Hayes: Japan Market Rattles the Globe, Liquidates High Leverage Bitcoin Derivatives such as Strategy, Metaplanet

BlockBeats News, January 28th, Arthur Hayes published an article "Woomph" analyzing that the recent continuous depreciation of the Japanese Yen and the fall in Japanese government bond prices are causing a global financial market "wham." He believes that the Federal Reserve and the U.S. Treasury may be forced to join forces to directly intervene in the Yen exchange rate and the Japanese government bond market by expanding the balance sheet, thereby injecting new liquidity into the global fiat currency system.

He stated, "As the Yen strengthens against the Dollar, the Bitcoin price falls. I will not increase risk until I confirm that the Federal Reserve is printing money to intervene in the Yen and Japanese government bond market. If the foreign currency-denominated asset item on the Federal Reserve's balance sheet significantly increases, it will be a good time to increase Bitcoin holdings." High-leverage Bitcoin-related positions such as closed strategies and Metaplanet have been taken before the Yen's volatility appeared. If the assessment is confirmed, re-entry will occur. During the wait for policy clarity, his fund Maelstrom continues to increase its Zcash holdings, while maintaining positions in other high-quality DeFi tokens; once the Federal Reserve confirms balance sheet expansion intervention, he will consider increasing positions in DeFi assets such as ENA, ETHFI, PENDLE, and LDO.