由于日元陷入困境，BTC-JPY 波动性自 2022 年以来首次超过 BTC-USD

比特币的波动率在日本创下新高，BTC-日元货币对的 90 天实际波动率超过了 BTC-USD。这是自 2022 年以来的首次

Bitcoin (BTC) volatility hit new heights in Japan last week, with the BTC-JPY pair surpassing BTC-USD in 90-day realized volatility for the first time since 2022.

上周，比特币 (BTC) 波动率在日本创下新高，BTC-日元货币对的 90 天实际波动率自 2022 年以来首次超过 BTC-USD。

This shift in volatility was largely driven by worsening market conditions in Japan, particularly following last week’s general elections.

这种波动性的转变主要是由日本市场状况恶化造成的，特别是在上周大选之后。

The Japanese yen came under increasing pressure last week, with investors largely hesitant toward the yen as it approached multi-month lows. This weakness in the yen made Japanese assets, including BTC-JPY, more volatile, with the heightened volatility around the BTC-JPY pair reflecting this vulnerability and increased market uncertainty.

日元上周面临越来越大的压力，投资者在日元接近数月低点时对日元犹豫不决。日元的疲软使得包括 BTC-JPY 在内的日本资产波动性更大，而 BTC-JPY 货币对的波动性加剧反映了这种脆弱性并增加了市场不确定性。

Japanese investors also largely hoped that the recent elections would stabilize the yen. However, this did not occur, and instead, markets grew more volatile, impacting major currency pairs, including BTC-JPY.

日本投资者也很大程度上希望最近的选举能够稳定日元。然而，这种情况并没有发生，相反，市场变得更加波动，影响了包括 BTC-JPY 在内的主要货币对。

The BTC-JPY pair now has a realized volatility rate of over 50%, while BTC-USD remained slightly below 50%.

BTC-日元货币对目前的实际波动率超过 50%，而 BTC-USD 仍略低于 50%。

In contrast, the BTC-USD market remained relatively stable last week. Although the U.S. dollar faced pressures of its own, BTC-USD volatility was more controlled compared to BTC-JPY.

相比之下，上周BTC兑美元市场保持相对稳定。尽管美元面临自身的压力，但与 BTC-JPY 相比，BTC-USD 的波动性更受控制。

As the U.S. election approaches, however, traders are preparing for possible volatility spikes in the BTC-USD market, with analysts expecting that post-election developments could influence this pair’s stability.

然而，随着美国大选的临近，交易者正在为 BTC-USD 市场可能出现的波动性飙升做好准备，分析师预计大选后的事态发展可能会影响该货币对的稳定性。

The yen’s struggles raised concerns among Japanese investors, with the lack of interest in the yen continuing to be a major issue for buyers. Despite a general preference for safe assets, the yen's weak levels made it difficult to attract new interest. This sentiment pushed some investors toward alternative assets, contributing to the increased volatility of BTC-JPY.

日元的挣扎引起了日本投资者的担忧，对日元缺乏兴趣仍然是买家面临的主要问题。尽管人们普遍偏爱安全资产，但日元的疲软水平使其难以吸引新的兴趣。这种情绪促使一些投资者转向另类资产，导致比特币兑日元波动性加大。

Moreover, Bitcoin's role as a hedge against traditional markets also supported its popularity in Japan. Amid economic uncertainty, Japanese investors explored Bitcoin, a trend that amplified the BTC-JPY pair's volatility as market participants reacted to broader financial conditions.

此外，比特币作为传统市场对冲工具的作用也支撑了其在日本的受欢迎程度。在经济不确定的情况下，日本投资者探索了比特币，随着市场参与者对更广泛的金融状况做出反应，这一趋势放大了 BTC-JPY 货币对的波动性。

With major elections in both Japan and the U.S., markets are bracing for more uncertainty. The yen's vulnerability, coupled with the upcoming U.S. election, presents a dynamic outlook for BTC traders globally. As BTC-JPY volatility surpasses BTC-USD, investors are watching both markets for potential shifts.

随着日本和美国的重大选举，市场正准备迎接更多的不确定性。日元的脆弱性，加上即将到来的美国大选，为全球比特币交易者带来了充满活力的前景。随着 BTC-JPY 波动性超过 BTC-USD，投资者正在关注两个市场的潜在变化。