Bitcoin Falls to $62K, Analyst Cites Japan Bond Volatility
Bitcoin dropped to $62,000 amid US-Iran tensions, but analyst Michael van de Poppe attributes the correction to a sharp move in Japanese government bond yields, not geopolitics. Meanwhile, QCP notes cautious sentiment ahead of key macro events.
Bitcoin's price fell to $62,000, but analyst Michael van de Poppe argues the correction stems from volatility in Japan's debt market rather than escalating US-Iran tensions. On July 9, the 10-year Japanese government bond yield hit 2.9% for the first time in 30 years, then plunged 16 basis points to 2.71% within less than a day—the largest daily drop since April 2025.
Crypto trading firm QCP flagged uncertain sentiment as investors await upcoming catalysts: US CPI data on July 14, the start of Federal Reserve Chairman Kevin Warsh's two-day congressional testimony the same day, and the beginning of earnings season. QCP notes that the CPI release could recalibrate expectations for the Fed's next move.
Source: ForkLog