Futures
Access hundreds of perpetual contracts
CFD
Gold
One platform for global traditional assets
Options
Hot
Trade European-style vanilla options
Unified Account
Maximize your capital efficiency
Demo Trading
Introduction to Futures Trading
Learn the basics of futures trading
Futures Events
Join events to earn rewards
Demo Trading
Use virtual funds to practice risk-free trading
CFD
U.S. stock CFD derivatives
US Stocks
Access real US stocks and ETFs
HK Stocks
Trade quality Hong Kong-listed stocks
Stock Futures
High leverage, 24/7 trading
Tokenized Stocks
Backed by real stock assets
IPO Access
Unlock full access to global stock IPOs
GUSD
Mint GUSD for Treasury RWA yields
Stocks Activities
Trade Popular Stocks and Unlock Generous Airdrops
Launch
CandyDrop
Collect candies to earn airdrops
Launchpool
Quick staking, earn potential new tokens
HODLer Airdrop
Hold GT and get massive airdrops for free
IPO Access
Unlock full access to global stock IPOs
Alpha Points
Trade on-chain assets and earn airdrops
Futures Points
Earn futures points and claim airdrop rewards
Promotions
AI
Gate AI
Your all-in-one conversational AI partner
Gate AI Bot
Use Gate AI directly in your social App
GateClaw
Gate Blue Lobster, ready to go
Gate for AI Agent
AI infrastructure, Gate MCP, Skills, and CLI
Gate Skills Hub
10K+ Skills
From office tasks to trading, the all-in-one skill hub makes AI even more useful.
Japanese interest rates reach a 30-year high, but the crypto market remains almost unaffected.
This stands in stark contrast to August last year when the Bank of Japan unexpectedly raised interest rates, triggering a global arbitrage trade collapse and a 15% single-day plunge in BTC.
At that time, market panic was caused by the concentrated unwinding of yen arbitrage trades—many institutions borrowed low-cost yen to buy US stocks and crypto assets, and the rate hike forced them to close their positions.
This time, the rate hike has been fully priced in, and the market has already deleveraged in advance.
A deeper change is that the crypto market’s sensitivity to macro interest rates is decreasing.
BTC’s correlation with US stocks has dropped from 0.6 to around 0.3, with institutional funds flowing more through ETF channels rather than leverage arbitrage.
The rate hike in Japan no longer directly impacts crypto liquidity.
But risks still remain.
If the Bank of Japan continues tightening, global yen arbitrage positions could slowly unwind.
It’s just that this time, the crypto market is no longer the fragile transmission endpoint it once was.
$btc #defi #ETF #区块链 #Crypto Market