QCP: If Bitcoin breaks through historical highs, it may trigger a new round of FOMO market, further pushing up the price of the currency

BlockBeats news, on May 21, QCP released its daily market observation that the yield of 30-year Japanese treasury bond (JGB) exceeded 3%, breaking through the historical threshold. Japan's expanding debt problem has been a potential concern for a long time, and is now approaching the critical point. If this wave of bond selling continues and fiscal concerns intensify, the market's reassessment of Japan's risks may push the yen up in the short term. The volatility in the Japanese market has begun to affect the global market. The yield of the 30-year treasury bond bond of the United States has again exceeded 5%, and investors are looking to the path of the United States' own debt. Meanwhile, Bitcoin attempted to break through the $108000 mark today, but failed to maintain momentum. The current price trend is closely related to the increase in holdings of Strategy and Metaplanet, which are still the main sources of buying at present. But the market is increasingly concerned that they may represent the last wave of power for 'marginal buyers'. If its purchases slow down, it may trigger other investors to take profits, thereby reversing the current upward trend. Despite facing sustained headwinds at the macro level, including soaring bond yields, tariff escalation, and potential stagflation risks in the third and fourth quarters of 2024 in the United States, Bitcoin has shown astonishing resilience over the past month. That being said, once the price successfully breaks through the historical high, it may trigger a new round of FOMO sentiment, bringing out of market funds and further pushing up the coin price.