Japan Stimulus Spurs QE Bets, Bitcoin Whales Eye $1M Target
Japan’s new prime minister, Sanae Takaichi, announced a ¥3.5 trillion stimulus package on Oct. 22, offering electricity and gas subsidies and regional grants to ease household and SME inflation pressures. The move pushed the yen to a one-week low and sparked expectations of renewed Bank of Japan quantitative easing ahead of its Oct. 29 policy meeting. BitMEX co-founder Arthur Hayes forecast that increased money supply could propel Bitcoin to $1 million, driving demand for crypto as an inflation hedge. Meanwhile, large investors are opening leveraged long positions on Bitcoin via decentralized exchange Hyperliquid, with whale wallets “0x3fce” and “0x89AB” depositing $49.7 million and $14 million respectively. Traders should watch for BOJ signals and whale activity as potential catalysts for Bitcoin’s next major move.
Bullish
The expectation of renewed quantitative easing by the Bank of Japan, driven by Japan’s stimulus measures, typically leads to yen depreciation and higher fiat supply. Arthur Hayes’s $1 M Bitcoin forecast and the observed whale activity on Hyperliquid underscore growing demand for crypto as an inflation hedge. Large leveraged long positions signal strong short-term bullish sentiment, while potential BOJ easing provides a long-term catalyst. Together, these factors suggest a bullish outlook for Bitcoin, as both macro monetary policy shifts and on-chain whale behavior historically correlate with upward price movements.