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BTC/JPY Surges After Japan’s “Iron Lady” Sanae Takaichi Wins

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USD/JPY and BTC/JPY Price Performance

Japan’s Prime Minister Sanae Takaichi, often dubbed the country’s “Iron Lady,” has secured a historic landslide victory in the February 8, 2026, snap parliamentary elections. Her Liberal Democratic Party (LDP) is projected to win between 274 and 326 of the 465 seats in the lower house, marking the largest post-war electoral margin for any Japanese party.

The decisive result consolidates Takaichi’s authority and positions her to pursue ambitious economic and regulatory reforms.

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Japan’s Sanae Takaichi Secures Landslide Win, Sets Stage for Crypto Tax Reform

Markets reacted swiftly to the outcome. The dollar/yen climbed 0.2% to 157, while the BTC/JPY trading pair rose almost 5%, signaling investor confidence in Takaichi’s pro-growth agenda.

USD/JPY and BTC/JPY Price Performance
USD/JPY and BTC/JPY Price Performance. Source: TradingView

This so-called “Takaichi trade” draws momentum from expectations of fiscal stimulus, loose monetary policy, and increased liquidity.

It has already lifted Japanese equities to record highs, while government bonds and the yen have faced pressure.

Japanese Equities Performance
Japanese Equities Performance. Source: Trading Economics

US officials quickly weighed in on the result, with Treasury Secretary Scott Bessent calling the victory “historic” and emphasizing the strength of US-Japan relations under Takaichi’s leadership.

Days before, President Donald Trump also offered a full endorsement, highlighting her leadership qualities and recent trade and security successes.

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In turn, Takaichi expressed gratitude, reaffirming plans to visit the White House in spring 2026 and describing the US-Japan alliance as having “unlimited potential” built on deep trust and cooperation.

Takaichi’s Mandate Signals Potential Crypto Tax Overhaul and Blockchain-Friendly Policies

Takaichi’s electoral mandate is widely seen as a green light to accelerate Japan’s crypto reforms. The country currently taxes crypto gains as miscellaneous income at rates up to 55%.

This framework has driven some investors abroad despite Japan’s leading position in blockchain adoption.

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Under discussion for fiscal year 2026 are reforms that could:

  • Reduce gains tax to around 20%
  • Allow loss carryforwards for three years, and
    Reclassify certain digital assets as financial products.

The general sentiment is that her pro-growth policies and willingness to collaborate with crypto-friendly opposition parties, such as the Japan Innovation Party and the Democratic Party for the People, could finally push these long-awaited measures through by 2028.

Earlier in her tenure, Takaichi endorsed policies supporting technology, innovation, and economic security, aligning with broader blockchain and Web3 development.

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While she has not made crypto a central campaign issue, her aggressive fiscal stance, modeled after her mentor Shinzo Abe’s “Abenomics,” could create an economic environment that favors risk assets, including Bitcoin, Ethereum, and Japan-related digital projects.

“Takaichi has pledged aggressive fiscal policy funded largely through bond issuance…will her electoral momentum fuel even larger stimulus, or give her the political cover to proceed more cautiously, as investors remain uneasy over Japan’s massive debt load and recent spikes across the JGB yield curve,” posed Rob Wallace.

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Indeed, uncertainties remain. Japan’s national debt exceeds 250% of GDP after topping out at 232.35% in 2025. Meanwhile, recent spikes in government bond yields have raised investor concerns about fiscal sustainability.

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Japan General Government Gross Debt to GDP
Japan General Government Gross Debt to GDP. Source: Trading Economics

Key cabinet appointments and regulatory priorities will be critical in shaping the pace and scope of crypto reform. Finance Minister Katsunobu Kato’s continued role could maintain policy continuity, though his limited engagement on crypto issues may temper ambitious changes.

Digital Minister Masaki Taira has yet to articulate specific positions on crypto or Web3.

Nevertheless, the Financial Services Agency’s ongoing proposals, combined with Takaichi’s strong political mandate, suggest a turning point for Japan’s digital asset sector.

If successful, reforms could provide clearer regulatory frameworks, tax relief, and legal recognition for crypto, laying the groundwork for a more innovation-friendly ecosystem.

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Arkham data shows Bitmine sending 9,600 ETH to Coinbase Prime

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Arkham data shows Bitmine sending 9,600 ETH to Coinbase Prime - 2

Blockchain data shows that crypto treasury firm BitMine Immersion Technologies recently transferred around 9,600 ETH to wallets linked to Coinbase’s institutional platform Coinbase Prime.

Summary

  • BitMine transferred 9,600 ETH to Coinbase Prime in two transactions worth roughly $19–20 million.
  • Despite the move, the firm still controls over 1 million ETH across tracked wallets, with around 3.04 million ETH staked.
  • Bitmine has accumulated more than 4.5 million ETH worth over $9 billion, positioning itself as one of the largest corporate holders of Ethereum.

Bitmine transfers 9,600 ETH to Coinbase Prime

According to on-chain intelligence platform Arkham, the transactions moved roughly 9,600 Ethereum (ETH), worth about $19–20 million at current prices, from Bitmine-controlled wallets to Coinbase Prime addresses.

Such transfers are commonly associated with institutional custody management, liquidity provisioning, or over-the-counter trading activity. The first transfer sent 5,300 ETH worth $10.75 million followed by a second batch of 4,308 ETH worth $8.74 million.

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Arkham data shows Bitmine sending 9,600 ETH to Coinbase Prime - 2

Despite the movement, Arkham data indicates that Bitmine continues to control more than 1 million ETH across tracked wallets, while a large portion of its holdings, around 3.04 million ETH, are staked.

Large transfers to Coinbase Prime are often linked to institutional custody management, over-the-counter (OTC) trading, or liquidity provisioning, rather than immediate spot market selling.

The company has emerged as one of the most aggressive corporate accumulators of Ethereum. Its strategy mirrors the corporate Bitcoin treasury model popularized by companies like MicroStrategy, but with a focus on Ethereum as the primary reserve asset.

Bitmine has dramatically expanded its ETH holdings in recent months as part of a large-scale buying spree. The company now holds over 4.5 million ETH tokens worth more than $9 billion, making it one of the largest institutional holders of the asset.

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The firm has repeatedly added tens of thousands of ETH during market pullbacks, including purchases of more than 50,000 ETH in a single week, signaling strong long-term conviction in the network’s growth and institutional adoption.

This aggressive accumulation has drawn investor attention, particularly as Bitmine positions itself as a publicly traded vehicle for exposure to Ethereum. The company’s stock, traded under the ticker BMNR, has also shown signs of recovery alongside renewed buying activity and broader crypto market stabilization.

While the latest transfer represents only a small portion of its total reserves, it highlights the scale of Bitmine’s treasury operations and the growing role of large corporate entities in Ethereum markets.

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Pi Network (PI) Eyes $0.50 Target as Four Key Drivers Align This Week

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PI Network (PI) Price

Key Highlights

  • PI experienced a ~7% price increase on March 10, while trading volume exploded over 65% to reach $39.7 million
  • Crypto analyst Dr. Altcoin forecasts PI reaching $0.50 within the week, citing Pi Day on March 14 as a major catalyst
  • Scheduled network enhancements are set for completion by March 12, bringing anticipated DeFi capabilities
  • Should Kraken announce a listing, the analyst suggests PI could surge to $0.75
  • The token has gained approximately 70% from its record low and successfully breached critical resistance zones

The PI token from Pi Network recorded approximately 3% gains on March 9, bouncing back from a 5% decline the previous day. Throughout the last week, the cryptocurrency advanced from $0.166 to approximately $0.221, delivering stronger performance than both Bitcoin and Ethereum during this timeframe.

PI Network (PI) Price
PI Network (PI) Price

Trading activity has experienced a dramatic uptick. A month ago, daily volume barely reached $10 million. Current data from CoinGecko and CoinMarketCap shows it has rocketed past $400 million.

Cryptocurrency analyst Dr. Altcoin shared on X that PI may achieve the $0.50 milestone within the coming days. This represents approximately 130% appreciation from present values and would mark the token’s peak price point since July 2025.

His analysis identifies four key catalysts: the March 14 Pi Day celebration, escalating trading volumes, sustained price momentum, and speculation around a Kraken exchange integration.

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Pi Day Celebration and Technical Enhancements

March 14 represents Pi Day, a significant annual milestone within the Pi Network ecosystem. Historically, the development team has leveraged this date to reveal substantial announcements and strategic roadmap developments.

Planned network improvements are targeted for completion by March 12. Fresh DeFi infrastructure, potentially featuring a PiDEX or automated market maker system, is anticipated to go live during this window.

The Pi Network development team utilized the first mainnet anniversary celebration in February to communicate strategic objectives encompassing artificial intelligence integration, accelerated KYC verification processes, and plans for a KYC-as-a-Service offering.

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Chart Analysis and Price Targets

From a technical perspective, PI has climbed above its 100-day Exponential Moving Average. The Supertrend technical indicator has switched from bearish red to bullish green for the first time in several months.

The cryptocurrency successfully penetrated the $0.2146 barrier, which represented its January peak. The Percentage Price Oscillator has moved into positive territory and displays upward momentum.

Critical support exists within the $0.20 to $0.204 range. Maintaining prices above this area preserves the bullish technical structure. Falling beneath $0.20 could trigger a pullback toward $0.186.

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Immediate resistance zones appear at $0.237, followed by $0.29. Clearing these barriers would bring the $0.50 projection into realistic territory.

Dr. Altcoin further noted that an official Kraken listing confirmation coinciding with Pi Day celebrations might propel PI toward the $0.75 level.

PI secured a position among the most-tracked cryptocurrencies on CoinMarketCap on March 10, indicating heightened retail investor attention building ahead of the upcoming event.

The countdown stands at five days until March 14 arrives.

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Bitcoin ETFs Gain $167M While Altcoin Funds See Outflows

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Bitcoin ETFs Gain $167M While Altcoin Funds See Outflows

US spot Bitcoin exchange-traded funds posted net inflows on Monday, snapping a two-session stretch of outflows as Bitcoin rose toward $70,000 and investor demand returned to the largest cryptocurrency.

Spot Bitcoin (BTC) ETFs recorded $167 million of inflows on Monday, following around $577 million in outflows on Thursday and Friday, according to SoSoValue data.

Daily flows in US spot Bitcoin ETFs by issuer since March 2. Source: SoSoValue

Demand was weaker across other crypto-linked ETFs. Altcoin funds experienced significant selling pressure, with outflows persisting across Ether (ETH), XRP (XRP) and Solana (SOL) ETFs even as the underlying tokens rose 3-5% over the past 24 hours, according to CoinGecko data.

The gains followed US President Donald Trump telling reporters on Monday that the war with Iran could be coming to an end, easing geopolitical fears and pushing oil prices lower.

Ether, XRP and Solana now on a three-day outflow streak

Ether, XRP and Solana ETFs saw outflows totaling $51 million, $18 million and $2.5 million, respectively, on Monday, according to SoSoValue. This marked a three-day outflow streak, with Ether seeing the largest cumulative losses at $225 million.

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Daily flows in US spot XRP ETFs by issuer since March 5. Source: SoSoValue

While ETH and SOL selling have been subsiding over the past three trading sessions, XRP outflows increased, totaling around $41 million since Thursday. Solana’s outflows amounted to roughly $16 million over the same period.

Related: Crypto funds gain $619M as markets hold up despite oil and war fears

The sideways trading in crypto ETFs came as analysts warned that it’s still early to declare a structural bottom in Bitcoin, which traded at $70,015 at the time of writing, according to CoinGecko.

Source: CryptoQuant

CryptoQuant’s analyst IT cited the Bitcoin long-term holder to short-term holder spent output profit ratio, which hit 0.89, showing short-term holders selling at a loss.

The data suggests market stress is building, but has not yet reached capitulation levels, meaning a clearer bottom may still be ahead.

Magazine: The debate over Bitcoin’s four-year cycle is over: Benjamin Cowen

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