PANews reported on March 11 that CFTC data showed that excessive long positions in the yen could trigger a pullback, providing short-term support for Bitcoin and the Nasdaq index. Morgan Stanley pointed out that the extension of speculative positions and bargain-hunting behavior by Japanese investors could slow down the appreciation of the yen.
Historically, similar situations have driven risk assets to rebound. As of press time, Bitcoin was trading at $80,300, having fallen nearly 5% this month, and the dollar was trading at 147.23 yen, having hit a five-month low of 145.53 earlier. Although there is hope for short-term relief, the long-term bullish trend for the yen remains, and we need to be wary of market fluctuations.
