A lot can change in just a few days. Bitcoin recently reached new all-time highs of over in both U.S. dollar and Japanese yen terms, boosted by new Japanese prime minister, Takaichi Sanae's bias for ultra-easy Abenomics policy setting.

However, the very same Abenomics bias now seems to be working against BTC through its impact on the bond market.

One of the key features of Abenomics is the implementation of an expansionary fiscal policy, characterised by increased government spending to support economic growth. In other words, bond supply could increase, worsening the already dour fiscal outlook.

The Japanese government bonds seem to be pricing that, pushing yields higher. (bond prices and yields move in the opposite direction). According to TradingEconomics, the 10-year JGB yield hit a

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