Bitcoin volatility in Japan hit new highs, with BTC-JPY surpassing BTC-USD in 90-day realized volatility. For the first time since 2022, BTC-JPY has been more volatile than its US counterpart. Last week's elections played a significant role in this.
Their results have added more uncertainty to the market instead of the expected stabilization of the yen. The BTC-JPY pair currently has a volatility level above 50%, while BTC-USD has a lower level.
The BTC-USD market, on the other hand, remains relatively stable and more controllable than BTC-JPY. However, as the US elections approach, traders are bracing for possible spikes in volatility in the BTC-USD market.
The yen's woes have left Japanese investors worried, and the yen's current levels make it difficult to attract interest. The negative sentiment has pushed some of them to alternative assets, further increasing BTC-JPY volatility.
Bitcoin's role as a hedge against traditional markets has kept it popular in Japan. Amid economic uncertainty, Japanese investors are looking to Bitcoin.
