PANews reported on May 30th that according to Matrixport analysis, Bitcoin recently surged to $112,000, becoming one of the key drivers for global market reassessment of bond yields and the US dollar exchange rate. Although many Asian countries denied intervening in exchange rates, the continued appreciation of Asian currencies has put pressure on the regional economy. Bitcoin's initial rise was considered related to US tariff policies, but is now more driven by Asian macroeconomic concerns.
Analysis indicates that the restart of US corporate buybacks and the expansion of Coinbase premiums show that US investor bullish sentiment is heating up. Although MicroStrategy purchased $4 billion worth of Bitcoin this month, the market believes the real driving force may come from a secretive and powerful new buyer. The Bank of Japan's downward revision of economic expectations and the trend of capital inflows into the Bitcoin market are also worth noting.
Additionally, Japan's cryptocurrency "shadow stock" Metaplanet's market value has significantly increased, but its valuation is inflated and investment risks are high. Analysis suggests that Bitcoin's main gains are concentrated in the Asian trading session, and recommends that investors lock in profits at the current high levels. If Bitcoin fails to stabilize above $106,000, investors are advised to gradually reduce long positions to control potential pullback risks.
