The always-bullish-on-crypto Arthur Hayes has announced that he’s closed his positions in Bitcoin-related leveraged stocks like MicroStrategy, Japan’s version of MicroStrategy (Metaplanet), and others. He believes that the combination of a weakening yen and rising long-term Japanese government bond yields is highly unusual. This could mean the Bank of Japan has lost control, and something big might be about to happen. So, he’s choosing to wait and see, holding off until the Fed steps in and intervenes. Since Arthur Hayes has always been known for his unwavering bullish stance on crypto, the community often uses him as a contrarian indicator. This is one of the rare times he’s chosen to be bearish or take a wait-and-see approach.