According to The Kobeissi Letter, Japanese private financial institutions sold $17.5 billion of long-dated foreign bonds, primarily US Treasuries, during the week ending April 4th, followed by an additional $3.6 billion the next week. This $21.1 billion two-week sell-off is the largest since records began, signaling reduced Japanese demand for US fixed income assets. For crypto traders, decreased demand for Treasuries may weaken the US dollar, potentially increasing risk appetite for digital assets like Bitcoin and Ethereum. Market participants should monitor bond outflows and currency moves for short-term crypto volatility (source: The Kobeissi Letter, April 26, 2025).