“Time to Go Shopping” – U.Today

As Bitcoin (BTC) experiences a 10% decline in less than a month and Japanese stocks face significant pressure, the largest cryptocurrency is not immune to the turmoil. Veteran cryptocurrency entrepreneur Arthur Hayes suggests that this could present potential “buy” opportunities for investors.

### JPY Rises, BTC Falls: Insights from Arthur Hayes

Recent market fluctuations, notably the significant volatility in the USD/JPY exchange rate, have affected various global markets, including Bitcoin. Arthur Hayes, the founder of the prominent crypto exchange BitMEX and CIO of Maelstrom Fund, shared his observations with his 526,000 followers on social media, pointing out the short-term “widow maker” effect attributed to this volatility.

Despite the current challenges, Hayes believes we are entering a period ripe for investment, stating that now is a good time to “go shopping.”

Since hitting a local low on July 11 at approximately 161 JPY per USD, the Japanese yen has appreciated over 10% and stabilized at around 140 JPY per USD. Conversely, Bitcoin, which was twice rejected at the $70,000 mark on July 29, fell below $61,000 within just three days, representing a 14% decrease.

### Nikkei Plummets: The Biggest Drop since 1987

In addition to rising U.S. unemployment rates, which have spiked to 4.3% (a 0.2% increase in 30 days), the Tokyo Stock Exchange has seen a painful decline, contributing to overall market volatility this week. The Nikkei Stock Average 225, which tracks the largest Japanese companies, plunged by 2,216.63 points, or 5.81%, in a single day.

The broader index recorded an even more significant drop of 6.14%, marking its lowest close in six months. Economists note that both declines represent the second-largest in the history of these indexes, marking a level of pressure not seen since Black Monday in 1987.