Japanese bonds reach 30-year high; Bitcoin consolidates near $78,000

Huo Xing Finance reports that the global bond bear market continues to intensify: Japan’s 10-year government bond yield rose to 3% on Tuesday, the first time since 1996, while the 30-year yield surpassed its historical high of 4.18%. The U.S. 10-year Treasury yield also climbed to a multi-year high at 4.78%, pushing global long-term sovereign bond yields to their highest levels since the 2008 financial crisis. Against this backdrop, Bitcoin has remained range-bound near $78,000, slightly retracing from its earlier high near $79,000. A dense resistance zone between the current spot price and $86,000 is capping Bitcoin’s upside momentum; market sentiment remains cautiously optimistic in the short term, with the $76,000–$82,000 range viewed as the key battleground over the coming weeks. This sell-off follows U.S. Treasury Secretary Bessent’s announcement that starting in September, the ceiling for Treasury buyback operations would be raised to $4 billion. Some commentators have likened this to a form of yield curve control. Arthur Hayes has long argued that the Federal Reserve will ultimately activate the FIMA repo facility, a mechanism that would create new dollar liquidity—this is why he recommends allocating to Bitcoin, gold, and cryptocurrencies; Bessent had previously hinted in August at the potential future use of this tool.