As of 10:00 a.m. on the 2nd, the overseas Bitcoin price was down 0.62% from the same time the previous day, at $86,501 (approximately 13.46 million yen) on CoinMarketCap.
First, the rise in Japanese government bond interest rates, which reached the highest level since 2008, strengthened risk aversion, and cryptocurrency
The previous day, Japan's 10-year government bond yield soared to 1.86%, the highest level in about 17 years. This has led to investors borrowing yen at low interest rates to invest in risky assets.
The view that the yen carry trade, which contributes to the yen's value, would shrink spread, and this had an impact on the cryptocurrency market, which is a major risk asset.
Additionally, concerns over stablecoins are weighing on the market.
On the 26th (local time), S&P Global Ratings upgraded Tether's stablecoin stability rating by one notch from "constrained" to "weak."
The rating was downgraded to "vulnerable," the lowest rating out of a total of five levels. CoinDesk stated, "After the downgrade by S&P, investment sentiment in China has further cooled, with USDT falling below the official exchange rate.
"It is," he points out.
2025/12/02 14:32 KST
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