Die Market Maker sind durch den jüngsten Abschwung am Kryptomarkt in eine Abwärtsspirale geraten, durch die sich der Crash nun spürbar beschleunigt, meint Tom Lee.
Japan stimulus shakes global markets as yen sinks and crypto demand rises
- Japan’s 40-year bond yield rose to 3.774% on Thursday.
- Five-year CDS spreads reached 21.73 basis points on 20 November.
- GDP contracted in Q3 2025 and inflation reached 3% in October.
Japan’s new stimulus package is setting off sharp reactions across global markets, with the yen sliding to its weakest point against the US dollar since January 2025 and long-term bond yields rising to record levels.
The cabinet approved a 21.3 trillion yen package on Friday, the largest since the COVID-19 period, and the announcement immediately shifted expectations in currency, bond, and crypto markets.
The scale of the support and the pressure on Japan’s finances are now pushing investors to reconsider how they assess global risk, particularly as liquidity conditions evolve.
Economic reset
The package focuses on easing price pressures, supporting growth, and strengthening defence and diplomatic capacity.
Local government grants and energy subsidies form a key part of the plan, and households are expected to receive around 7,000 yen in benefits over three months.
The government also aims to lift defence spending to 2% of GDP by 2027.
The supplementary budget is expected to pass before the end of the year, although the ruling coalition currently holds only 231 of 465 Lower House seats.
The support comes during a period of weakening growth.
Japan’s GDP fell 0.4% in the third quarter of 2025, equal to a 1.8% annualised contraction.
Inflation has remained above the Bank of Japan’s 2% target for 43 months and reached 3% in October 2025.
Policymakers expect the new measures to lift real GDP by 24 trillion yen and generate a total economic impact near 265 billion dollars.
Rising market pressure
The fiscal boost has intensified concerns about long-term debt sustainability and market stress.
Five-year credit default swaps on Japanese government bonds reached 21.73 basis points on 20 November, the highest level in six months.
The country’s 40-year bond yield rose to 3.697% immediately after the announcement and climbed further to 3.774% on Thursday.
Every 100-basis-point increase in yields raises annual government financing costs by about 2.8 trillion yen, which has drawn attention to the strain on public finances over time.
Nikkei reports lingering caution about the continued use of fiscal stimulus beyond emergencies, adding another layer to investor concerns.
This debate has become more relevant as the yield curve shifts and Japan’s borrowing costs rise.
These movements are also important for the 20 trillion dollar yen-carry trade. Investors typically borrow yen at low rates and invest in higher-yielding markets overseas.
A mix of higher yields and sudden currency moves can force unwinding.
Historical data show a 0.55 correlation between yen-carry trade reversals and S&P 500 declines, which adds another source of volatility.
Yen reaction
The yen dropped sharply after the stimulus announcement, prompting speculation about future currency stability and the potential for intervention.
October exports rose 3.6% year on year, but the increase was not enough to ease concerns about broader economic pressure.
The scale of fiscal support and the persistence of inflation have become central factors in how global markets interpret Japan’s next steps.
Crypto shift
These conditions are feeding directly into crypto markets.
A weaker yen tends to drive Japanese investors toward alternative assets, including Bitcoin, especially during periods of rising liquidity.
Experts have noted that Japan’s decision adds to a global environment that already includes potential US Federal Reserve easing, Treasury cash movements, and continued liquidity support from China.
Together, these factors are creating conditions that could lift crypto demand into 2026.
At the same time, higher long-term yields pose a risk.
If yen-carry trades unwind quickly, institutions may be forced to sell assets, including Bitcoin, to meet liquidity needs.
The post Japan stimulus shakes global markets as yen sinks and crypto demand rises appeared first on CoinJournal.
Bitcoin price forecast: Is Bitcoin heading for $80k?
Key takeaways
- BTC is down 7% in the last 24 hours and is now trading around $81k per coin.
- The leading cryptocurrency could drop towards the $80k level if the bearish trend continues.
BTC continues to underperform
The cryptocurrency market has continued its poor performance in November. Bitcoin has lost 9.6% of its value in the last 24 hours and temporarily dropped below the $82k level.
The bearish performance comes amid a massive selloff in the market. JPMorgan analysts led by managing director Nikolaos Panigirtzoglou stated in a report earlier this week that the ongoing selloff is driven mainly by retail selling of spot bitcoin and ether ETFs rather than crypto-native traders. The analysts added that,
“While crypto native investors were responsible for the crypto market correction in October via heavy deleveraging in perpetual futures, this previous deleveraging in perpetual futures appears to have stabilised in November. Instead, it has been non-crypto investors, mostly retail investors who typically use spot bitcoin and Ethereum ETFs to invest in the crypto market, that appear to have been mostly responsible for the continuation of the crypto market correction in November.”
The selloff has also affected altcoins, with Ether, XRP, and other leading cryptocurrencies in the red.
Bitcoin slips below $82,000
The BTC/USD daily chart is bearish and inefficient as Bitcoin has lost 10% of its value in the last 24 hours. BTC began the week bearish, extending its decline by 2% and closing below the 61.8% Fibonacci retracement level at $94,253.
The $90k support level on Wednesday failed to hold, and Bitcoin has now dumped another 10% since then.. At the time of writing on Friday, BTC is trading down around 83,400.
The Relative Strength Index (RSI) on the daily chart stands at 22, indicating strong bearish momentum and oversold conditions for the leading cryptocurrency. The MACD lines are also extremely bearish at the moment.
If the selloff continues and Bitcoin closes the daily candle below the $85k support, it could extend the decline toward the key psychological level at $80,000.
However, if the $85k support level holds in the near term, BTC could rally and hit the next key resistance at $90,000.
The post Bitcoin price forecast: Is Bitcoin heading for $80k? appeared first on CoinJournal.
Nillion (NIL) price crashes 50% after unauthorized market-maker sell-off
- Nillion price fell more than 50% as altcoins battled sell-off pressure.
- The team has accused a market maker of dumping the platform’s native token.
- Despite the price dump, the team has initiated a token buyback using treasury funds.
The price of Nillion (NIL), a token associated with a private computing network that champions data privacy, has crashed sharply over the past 24 hours.
As cryptocurrencies tanked amid macro jitters, the small-cap token’s price plunged from above $0.21 to under $0.10. Sellers touched lows of $0.0.086.
NIL’s brutal 50% crash was accompanied by a staggering 680% jump in daily volume. A panicked market saw Nillion price dumping, and accelerated on Wednesday as nearly $200 million in sell-side volume brutalized buyers.
But why such aggressive selling for the native token of the private computing network?
NIL price crashes by over 50%: what happened?
On November 20, 2025, the Nillion team released a statement on X.
According to the platform, the sharp drop that saw NIL suffer a bloodbath happened as a market maker sold huge chunks of the token.
This sale was allegedly authorized. The post did not name the entity in question.
However, it alleged the partner switched off communication both as they sold and after the price-impacting event.
“If you were surprised by yesterday’s price action, you’re not alone,” the team noted. “Our entire team was confused until we realized what happened: a market maker sold NIL tokens without legal authorization from the Nillion Association. Then, refusing to respond to any team communications during the flash sale and hours following.”
To help mitigate the impact, Nillion said it has deployed treasury funds to buy back tokens.
Meanwhile, collaboration with exchanges has helped freeze accounts and wallets tied to the dumping. The project is also taking legal action.
Nillion price outlook
NIL ranks as one of the biggest losers across the crypto market in the past 24 hours, with current declines over the period at 36% at the time of writing.
After the initial price dump to lows of $0.086, NIL bulls attempted a swift bounce.
However, the brief gains faded at $0.14. Price is up 37% from that intraday low, but the recovery has stalled, and NIL hovers just above $0.118.
Price has traded above this mark for much of the day, and technically, it appears buyers are exhausted.
Sentiment is down, and the path of least resistance could be lower. Overall, downbeat sentiment for most altcoins suggests NIL may break below $0.10 again.
Nillion price reached an all-time high of $0.95 in March 2025, which means current price levels are more than 87% off that peak. The token traded above $0.24 earlier in the week and above $0.33 in October.
The post Nillion (NIL) price crashes 50% after unauthorized market-maker sell-off appeared first on CoinJournal.
Bitcoin-ETFs in den USA beenden fünftägige Negativserie
Die Bitcoin-ETFs befinden sich nun mehrere Tage im Abschwung, doch können ihre Negativserie vorerst stoppen, dennoch wiegt der Verlust schwer.