Japan’s $33B U.S Treasury sell-off in Q1 reignites Bitcoin vs Gold debate

The piece argues that macro forces — a firmer dollar, rising Treasury yields and Japan’s recent U.S. Treasury sell-off — are tilting liquidity toward gold and could pressure Bitcoin. Technically, the BTC/XAU ratio has jumped ~19% in Q2 and is pressing mid‑January resistance, but the author warns this comes amid higher inflation (~3.8% in April) and yields above 4.5%, conditions that previously coincided with a 28% BTC/XAU correction in Q1. Japan’s sell-off and a weaker yen (USD/JPY +1.3% this week) are highlighted as drivers that could shift flows back to gold, making a Q1‑style Bitcoin correction a realistic risk. Overall, the article is market commentary weighing a mixed outlook for Bitcoin vs. gold amid tightening macro liquidity.