For the first time in 15 years, the interests of Washington and Tokyo have aligned.
On Friday, the NY Fed called the dealers asking for USD/JPY quotes.
This has a name: rate check.
Last warning before intervention.
The last time the US and Japan intervened TOGETHER in the exchange rate was after Fukushima, in 2011.
Why now?
Japan needs a strong yen to contain inflation. Trump needs low long yields to refinance the debt.
The two problems can be solved with the same solution: a weaker dollar.
The numbers:
→ $DXY below 96: lowest in 4 years → JGB 40 years: hit 4.24% last week: first time since 2007 → American shutdown: deadline 30/jan → Powell: replacement may be announced THIS WEEK
The math:
→ DXY plummeting = "Sell America" coming back strong → Every dollar asset needs to be repriced → Gold and silver at historical highs is not a coincidence
For Bitcoin:
Short term = risk. A too strong yen forces unwind of the carry trade.
Medium term = bullish.
Weak dollar = the scenario that justifies the original thesis of $BTC .
What to watch: → FOMC tomorrow → Chair appointment → DXY
Faith in the dollar as a global reserve is running out. Fast.
$SUI is officially evolving from a Layer 1 blockchain into a unified developer platform known as S2.
With protocol-level privacy now live and USDsui launching as the gasless stablecoin standard, the "Move" ecosystem is making traditional finance look like dial-up internet.
This isn't just a chain anymore; it's a decentralized development stack designed to onboard the next billion users without them ever knowing they're using a blockchain.
Whales buying. Retail vanished. While Bitcoin takes a hit, wallets with more than 1,000 BTC have added +104,340 BTC recently.
And Strategy bought another 2,932 BTC for $264 million.
On the other side, silence. Liquidity in the order book has fallen about 30% since the peaks of 2025. Google search dead. Cold feed. Euphoria is turning into apathy.
This is the cycle doing what it always does: money leaving weak hands and going to strong hands.
This pattern usually appears near a bottom. But without retail to drive the next high, the accumulation by whales may still take some time to reflect in the price.
The only certainty is that the market does not ignore flow forever. It just takes time… until the day it no longer takes time.