The premium of Bitcoin in Japan rose to 1.49% in early April, the highest since March 2020
TradingView data shows that the Bitcoin-Yen (BTC/JPY) trading pair on Japanese cryptocurrency exchange bitFlyer is trading at a premium of about 0.2% compared to the Bitcoin-US dollar price on Nasdaq-listed Coinbase (COIN). In recent weeks, mainstream cryptocurrencies have continued to show premiums when priced in yen, with the highest premium reaching 1.49% earlier this month, the highest since March 2020. This indicates that traders are diversifying their investments into alternative assets to avoid volatility in the yen.
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