Analysis: Bitcoin Correlated with Japanese 10-Year Government Bond Yields, Potential BOJ Stability Could Boost Bitcoin
On January 23, Delphi Digital noted in a post that Bitcoin’s price has stayed stagnant while gold continues to climb—with Japanese government bonds (JGBs) likely a key driver.
Typically, rising yields lift the opportunity cost of holding non-yielding assets, pressuring gold. But when gold and yields rise in tandem, markets are pricing in policy strains and balance sheet vulnerabilities, not economic growth.
The current 10-year JGB yield is roughly 3.65 standard deviations above its long-term average. Japanese banks structurally hold long-duration bonds and have deep exposure to JGBs in both their assets and collateral.
Gold is absorbing this pressure, while Bitcoin has a negative correlation with 10-year JGB yields and has struggled relatively as JGB yields rise over the long term. If the Bank of Japan (BOJ) intervenes to stabilize the bond market, gold’s risk premium may ease—opening room for a Bitcoin rebound.
3 minutes ago
GameStop has transferred all its BTC holdings to Coinbase Prime
CryptoQuant said in an X post on January 23 that GameStop’s on-chain wallet has transferred all its Bitcoin holdings to Coinbase Prime today, likely in preparation for a sale.
Between May 14 and 23, 2025, GameStop bought 4,710 BTC total at an average price of roughly $107,900, with a total investment of around $504 million.
If sold at the current Bitcoin price of about $90,800, the company could face a loss of approximately $76 million.
3 minutes ago
Bitcoin Fails to Hit $90,000 Milestone, Market Sentiment Turns Bearish
Jan. 23
Bitcoin failed to push back above the $90,000 mark on Wednesday, eroding investor confidence and ramping up bearish sentiment in the crypto market.
Georgii Verbitskii, founder of non-custodial Web3 platform TYMIO, noted Bitcoin’s short-term weakness is tied to a lack of interest from big institutional investors at current price levels. He added geopolitical uncertainty has pushed investors toward defensive strategies.
Ryan Li, co-founder of crypto platform Surf, pointed out even top-performing altcoins are struggling—for example, Avalanche, which has dropped roughly 66% since September 2023, despite partnerships with firms like JPMorgan and WisdomTree. This signals the market has very low tolerance for altcoins right now.
Verbitskii also noted gold has emerged as a key safe-haven focus, drawing substantial capital and pushing Bitcoin to the sidelines. He emphasized this isn’t a panic-driven “systemic shift”—rather, it’s a period where Bitcoin is being repriced as a n
3 minutes ago
OKX will list SPACE perpetual swap contract
Per an official announcement, OKX will officially launch the SPACEUSDT perpetual contract on its web, app, and API platforms at 21:00 UTC+8 on January 23, 2026.
3 minutes ago
Binance Wallet Introduces Anti-Address Spoofing Feature, Supporting Identification and Removal of Malicious and Low-Value Transaction Records
On January 23, Binance Wallet announced that by integrating alerts for transfers to/from similar addresses, transaction history filtering, and address book functionality, it now supports identifying and filtering out malicious and low-value transaction records. This helps users avoid address poisoning attacks and better safeguard their asset security.
Address poisoning is growing into a major security threat: attackers use on-chain tactics to disrupt users’ transaction histories, putting asset security at risk.
3 minutes ago
Analyst: Bitcoin Key Support Level at $87,400
On January 23, cryptocurrency analyst @alicharts noted Bitcoin’s key support level sits at $87,400, with the chart showing its key resistance level at $98,400.
3 minutes ago
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