According to The Kobeissi Letter, the Bank of Japan (BOJ) triggered a surge in Japanese bond yields by halting its long-standing bond buying program, resulting in increased bond supply in the market and higher yields (source: The Kobeissi Letter, May 25, 2025). The BOJ's move comes with its massive balance sheet still in play, raising concerns over global liquidity and risk appetite. This shift impacts major financial markets, as higher Japanese yields can lead to capital rotation from risk assets, including cryptocurrencies, potentially increasing volatility and influencing short-term crypto trading strategies.