Crypto Scenario Insights
What happened
Japan's Nikkei 225 index surged past 69,700 on the back of geopolitical relief, but upcoming Bank of Japan rate decisions threaten to trigger a yen carry trade unwind.
What we think
The most likely outcome is a volatile, short-term crypto leverage flush (55% probability) as the BoJ raises rates moderately but manages the transition with dovish rhetoric.
Read the analysis
Nikkei's Record High Meets BoJ Rate Risk — Will a Yen Carry Trade Unwind Trigger Another Crypto Liquidation?
We explain what happened and what could follow. We do not forecast prices.