Did Japan Spark the Bitcoin Selloff? | Macro Mondays: December 1, 2025

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Dec 1, 2025

Join Andreas Steno Larsen and Mikkel Rosenvold as they navigate the world of finance with sharp insights. They tackle the latest rate cut expectations and the impact on AI stocks. Discover why Japan's recent inflation shifts signal a structural change. Tune in for a startling analysis of Black Friday sales and the booming role of AI in retail. Plus, they dive deep into the implications of rising US pressure on Venezuela, oil markets, and the potential surprises awaiting us in 2026.

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INSIGHT

Timing Matters More In 24/7 Markets

Low-liquidity hours concentrate risk in crypto, meaning market news outside peak hours causes oversized moves.
Andreas Steno Larsen links that feature of 24/7 trading to why crashes are more severe in crypto than in equities.

INSIGHT

24/7 Markets Amplify Crypto Shocks

Crypto's extreme moves reflect 24/7 markets and concentrated low-liquidity hours that amplify shocks.
Andreas Steno Larsen says excess leverage plus always-open trading makes crypto sell-offs larger than equities.

INSIGHT

Japan's Inflation Is A Structural Regime Shift

Japan now shows entrenched inflation and wage pressures around 2.5–3%, marking a regime shift.
Andreas argues this inflation supports equities as companies can raise prices, reversing decades of deflationary Japan.

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🔥 *Last Black Friday chance: https://rvtv.io/4ps8gYF* Andreas Steno Larsen and Mikkel Rosenvold of Steno Research dissect the latest rate cut expectations, the turbulence in AI stocks, shifting sentiment, and what it all means for portfolio decisions heading into year-end. 📣 This episode is brought to you by Bitwise Asset Management*. Bitwise has been all-in on crypto since 2017 and has more than 20 crypto-based products to help investors get the necessary access. Bitwise manages the world’s largest crypto index fund, one of the top Bitcoin ETFs, and one of the largest institutional Ethereum staking solutions. Bitwise has over $10 billion in assets under management and over 100 people in the US and Europe to help manage everything from ETFs to private alpha strategies to SMAs for large investors. 👉 Check out Bitwise at https://bitwiseinvestments.com and let them know that Real Vision mentioned them*. Carefully consider the extreme risks associated with crypto before investing 📣 Today’s sponsor is Plus500 US. Take your trading to the next level with cross-market contracts, from precious metals to key indices, and more. Whether you’re a seasoned trader in the Futures arena or brand new, Plus500’s user-friendly trading platform offers you the advanced tools, market insights, and quick execution you’ve been looking for.

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