In fact, I am not very clear about the true and false breakthroughs. From the perspective of trading volume, both the rise and fall this time have indeed brought significant trading volume, and this part of the trading volume is higher than the recent period. Therefore, I can agree that the FOMO sentiment in the market has driven the rise of BTC prices, which is true. However, the next 20-year US bond auction was unfavorable, and the profit flight caused by the superposition of Japanese treasury bond was also real. Japan's YCC may raise the interest rate, thus increasing the borrowing cost of yen, forcing investors who borrowed yen to repay in advance, so they had to sell the risk assets of dollars bought through borrowing yen. To put it simply, if Japan raises interest rates, it will greatly affect the global arbitrage structure and may trigger large-scale cross-border capital inflows into the yen, leading to technical selling pressure on US stocks and cryptocurrency assets. This tweet is sponsored by @ ApeXProtocolCN | Dex With Apex