{"id":41306,"date":"2026-01-20T14:46:09","date_gmt":"2026-01-20T14:46:09","guid":{"rendered":"https:\/\/volity.io\/blog\/bitcoin-yen-carry-trade-tariffs-macro-2\/"},"modified":"2026-06-03T14:29:34","modified_gmt":"2026-06-03T14:29:34","slug":"bitcoin-yen-carry-trade-tariffs-macro","status":"publish","type":"post","link":"https:\/\/volity.io\/fr\/actualites\/bitcoin-yen-carry-trade-tariffs-macro\/","title":{"rendered":"Bitcoin, le carry trade sur le Yen et les tarifs douaniers : comment les chocs macro\u00e9conomiques influencent le BTC"},"content":{"rendered":"\n    <style>\n    .vd-wrap {\n        display: flex;\n        align-items: flex-start;\n        gap: 20px;\n        background: #ffffff;\n        border: 1px solid #f2f4f7;\n        border-left: 4px solid #c0392b;\n        border-radius: 12px;\n        padding: 24px;\n        margin: 30px 0;\n        box-sizing: border-box;\n        width: 100%;\n        box-shadow: 0 4px 20px rgba(0,0,0,0.04);\n        position: relative;\n        overflow: hidden;\n    }\n    .vd-wrap::after {\n        content: \"\";\n        position: absolute;\n        right: -20px;\n        bottom: -20px;\n        width: 100px;\n        height: 100px;\n        background: radial-gradient(circle, rgba(192, 57, 43, 0.03) 0%, transparent 70%);\n        pointer-events: none;\n    }\n    .vd-icon {\n        flex-shrink: 0;\n        background: #fff5f4;\n        border: 1px solid #fee2e1;\n        border-radius: 8px;\n        width: 40px;\n        height: 40px;\n        display: flex;\n        align-items: center;\n        justify-content: center;\n    }\n    .vd-icon svg { width: 22px; height: 22px; }\n    .vd-content { flex: 1; min-width: 0; }\n    .vd-label {\n        display: block;\n        font-size: 11px;\n        font-weight: 800;\n        letter-spacing: 0.1em;\n        text-transform: uppercase;\n        color: #c0392b;\n        margin-bottom: 8px;\n        font-family: \"Inter\", sans-serif;\n    }\n    .vd-text {\n        font-size: 14px;\n        line-height: 1.6;\n        color: #475467;\n        margin: 0;\n        font-family: \"Inter\", sans-serif;\n    }\n    .vd-text p { margin: 0 0 10px 0; }\n    .vd-text p:last-child { margin-bottom: 0; }\n    .vd-text strong { color: #101828; font-weight: 600; }\n    .vd-text a { color: #c0392b; text-decoration: underline; }\n    @media (max-width: 600px) {\n        .vd-wrap { flex-direction: column; gap: 12px; padding: 20px; }\n        .vd-icon { width: 32px; height: 32px; }\n    }\n    <\/style>\n\n    <div class=\"vd-wrap\" role=\"alert\" aria-label=\"Divulgation des risques\">\n        <div class=\"vd-icon\">\n            <svg viewBox=\"0 0 24 24\" fill=\"none\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\">\n                <path d=\"M12 9V14M12 17.01L12.01 16.998M12 21C16.9706 21 21 16.9706 21 12C21 7.02944 16.9706 3 12 3C7.02944 3 3 7.02944 3 12C3 16.9706 7.02944 21 12 21Z\" stroke=\"#c0392b\" stroke-width=\"2\" stroke-linecap=\"round\" stroke-linejoin=\"round\"\/>\n            <\/svg>\n        <\/div>\n        <div class=\"vd-content\">\n            <span class=\"vd-label\">Avertissement R\u00e9glementaire sur les Risques<\/span>\n            <div class=\"vd-text\"><p>Investir dans des produits financiers comporte des risques. Les pertes peuvent d\u00e9passer la valeur de votre investissement initial.<\/p><\/div>\n        <\/div>\n    <\/div>\n\r\n\r\n\r\n\r\n<p data-volity-kw-intro=\"auto-2026-05-07\">Le <strong>carry trade sur le yen et Bitcoin<\/strong> est un sujet central pour les traders en 2026. Voici le guide complet.<\/p><h2>Le march\u00e9 des cryptomonnaies s&rsquo;effondre dans un contexte de guerres commerciales et de hausse du yen<\/h2><p>Les cryptomonnaies ont subi un nouveau coup dur aujourd&rsquo;hui, Bitcoin glissant sous les 92 000 $ et entra\u00eenant le reste du complexe avec lui. La valeur totale du march\u00e9 a chut\u00e9 de 2 % \u00e0 3 % suppl\u00e9mentaires, se situant entre 3,08 billions et 3,21 billions de dollars. Parall\u00e8lement, Ethereum a chut\u00e9 d&rsquo;environ 4 % pour s&rsquo;approcher des 3 000 $, tandis que XRP et d&rsquo;autres grandes capitalisations ont suivi dans une vente massive et rapide.<\/p><p>L&rsquo;\u00e9volution des prix ressemblait moins \u00e0 un titre de presse isol\u00e9 qu&rsquo;\u00e0 un probl\u00e8me de financement rencontrant des enjeux g\u00e9opolitiques. Les traders qui ont pass\u00e9 des mois \u00e0 parier sur la hausse des cours ont soudainement d\u00fb trouver des dollars, r\u00e9duire les risques et cl\u00f4turer leurs positions. Par cons\u00e9quent, les liquidations ont devanc\u00e9 les ventes au comptant et le positionnement sur les contrats \u00e0 terme s&rsquo;est retourn\u00e9.<\/p><h3>Pourquoi le march\u00e9 a craqu\u00e9<\/h3><p>Premi\u00e8rement, le Japon est devenu le centre de gravit\u00e9 ind\u00e9sirable. Les rendements obligataires japonais ont atteint des sommets pluriannuels, ce qui a renforc\u00e9 le yen et mis sous pression l&rsquo;un des trades les plus anciens des march\u00e9s mondiaux. Pendant des ann\u00e9es, les investisseurs ont emprunt\u00e9 des yens \u00e0 bas co\u00fbt pour les placer dans des actifs \u00e0 plus haut risque. Cependant, d\u00e8s que le yen monte, ce trade devient vicieux, et les cryptomonnaies se retrouvent en plein dans la zone d&rsquo;impact.<\/p><p>La politique \u00e0 Tokyo a ajout\u00e9 de l&rsquo;huile sur le feu. Les promesses de r\u00e9duction d&rsquo;imp\u00f4ts de la Premi\u00e8re ministre Sanae Takaichi ont augment\u00e9 les probabilit\u00e9s d&rsquo;une politique plus stricte sur les march\u00e9s. En cons\u00e9quence, Bitcoin a chut\u00e9 brutalement, passant de pr\u00e8s de 98 000 $ vers la zone basse des 90 000 $, et la vente s&rsquo;est rapidement propag\u00e9e aux actifs majeurs.<\/p><p>Deuxi\u00e8mement, les menaces tarifaires sont revenues au premier plan. Les publications de Donald Trump concernant une prise de contr\u00f4le du Groenland et les nouvelles discussions sur les tarifs douaniers visant les alli\u00e9s de l&rsquo;OTAN tels que le Royaume-Uni, la Norv\u00e8ge, la Su\u00e8de et le Danemark ont \u00e9branl\u00e9 le sentiment de risque global. Pendant ce temps, l&rsquo;or a d\u00e9pass\u00e9 les 4 600 $ alors que les traders se tournaient vers une valeur refuge ne n\u00e9cessitant ni effet de levier ni confiance dans un march\u00e9 de financement.<\/p><p>La structure technique des cryptomonnaies a fait le reste. Environ 500 millions de dollars de positions longues sur Bitcoin ont \u00e9t\u00e9 liquid\u00e9s en une heure environ, et l&rsquo;int\u00e9r\u00eat ouvert sur les contrats \u00e0 terme est tomb\u00e9 de 146 milliards \u00e0 136 milliards de dollars. Par cons\u00e9quent, le march\u00e9 a perdu son acheteur marginal au pire moment, car les ventes forc\u00e9es n&rsquo;attendent pas de meilleures offres.<\/p><h3>Techniques, sentiment et niveau de danger<\/h3><p>Le chartiste v\u00e9t\u00e9ran Peter Brandt a mis en garde contre un canal baissier, les haussiers devant reprendre les 104 000 $ pour changer la tendance. Pendant ce temps, l&rsquo;indice Crypto Fear and Greed est rest\u00e9 en zone de \u00ab Peur \u00bb, et les analystes bas\u00e9s sur les vagues ont discut\u00e9 d&rsquo;une correction de \u00ab Vague IV \u00bb avec une zone cible situ\u00e9e entre 71 000 $ et 84 000 $.<\/p><p>Cependant, les paniques \u00e9voluent rarement en ligne droite. Les positions courtes se sont accumul\u00e9es sur BTC autour de niveaux cl\u00e9s, et les cartes thermiques de liquidation montrent un positionnement dense pr\u00e8s de 90 000 $. Par cons\u00e9quent, un maintien au-dessus de cette ligne pourrait d\u00e9clencher un short squeeze, m\u00eame si la tendance globale reste lourde.<\/p><h3>Poches de force et beaucoup de bruit<\/h3><ul>  <li><b>Accumulation de positions courtes<\/b>: Le positionnement sur BTC semble satur\u00e9, ce qui augmente le risque de squeeze si les 90 000 $ tiennent.<\/li>  <li><b>La base de staking d&rsquo;Ethereum reste solide<\/b>: L&rsquo;ETH stak\u00e9 se situe pr\u00e8s de 30 % de son sommet historique malgr\u00e9 la pression sur les prix.<\/li>  <li><b>Les mod\u00e8les de Solana attirent les regards<\/b>: Certains traders citent une configuration haussi\u00e8re rare alors que les m\u00e9triques du r\u00e9seau s&rsquo;am\u00e9liorent.<\/li>  <li><b>Accumulation de Cardano<\/b>: Les baleines auraient ajout\u00e9 environ 210 millions d&rsquo;ADA en trois semaines.<\/li><\/ul><p>Ailleurs, la situation ressemblait \u00e0 un m\u00e9lange typique de fin de cycle, fait de grandes promesses et d&rsquo;accidents regrettables. Grant Cardone a \u00e9voqu\u00e9 un plan pour d\u00e9tenir 10 000 BTC pour un \u00ab test \u00bb de tr\u00e9sorerie en 2026, tandis que les r\u00e9cits de \u00ab long terme \u00bb port\u00e9s par les ETF tentaient de rivaliser avec les sorties de capitaux \u00e0 court terme et la r\u00e9duction des risques. Pendant ce temps, les \u00e9checs de jetons sp\u00e9cifiques ont continu\u00e9 de se produire, rendant le conseil \u00ab HODL \u00bb difficile \u00e0 suivre.<\/p><h3>La DeFi et les RWA continuent de se d\u00e9velopper, m\u00eame si les prix chutent<\/h3><p>Sous la surface, les projets d&rsquo;actifs du monde r\u00e9el (RWA) ont continu\u00e9 d&rsquo;avancer. Le thUSD de Tharwa, un stablecoin conforme \u00e0 la Charia adoss\u00e9 \u00e0 des sukuk, de l&rsquo;or, de l&rsquo;immobilier aux EAU et \u00e0 de la dette souveraine, s&rsquo;est int\u00e9gr\u00e9 \u00e0 l&rsquo;\u00e9cosyst\u00e8me DeFi de Real Finance. Il est \u00e9mis \u00e0 parit\u00e9 1:1 contre USDC, USDT ou DAI, vise une volatilit\u00e9 plus faible et plafonne tout actif unique \u00e0 33 %. Cependant, le march\u00e9 s&rsquo;en est \u00e0 peine souci\u00e9 aujourd&rsquo;hui, car les chocs macro\u00e9conomiques \u00e9touffent les bonnes nouvelles li\u00e9es aux produits.<\/p><p>Pendant ce temps, les traders ont \u00e9galement surveill\u00e9 les discussions sur une plateforme blockchain 24\/7 pour les actions tokenis\u00e9es, les ambitions on-chain des Bermudes avec Circle et Coinbase, le fonds de d\u00e9marrage de 3 millions de dollars de Pump.fun et un test de r\u00e9sistance du mainnet MegaETH pr\u00e9vu pour le 22 janvier. Par cons\u00e9quent, les d\u00e9veloppeurs ont continu\u00e9 de construire, m\u00eame si les \u00e9crans restaient rouges.<\/p><h3>Les \u00e9checs de jetons et les alertes de s\u00e9curit\u00e9 reviennent<\/h3><p>Plusieurs jetons plus petits se sont effondr\u00e9s suite \u00e0 des drames idiosyncrasiques. Trove a chut\u00e9 d&rsquo;environ 95 % dans le cadre d&rsquo;un pivot de Hyperliquid vers Solana, WhiteWhale a gliss\u00e9 d&rsquo;environ 60 % apr\u00e8s un dump de meme de 1,3 million de dollars, et MakinaFi a subi un piratage de 1 299 ETH. Pendant ce temps, Pi Network a fait face \u00e0 une pression avec environ 4,6 millions de jetons d\u00e9bloqu\u00e9s quotidiennement, et les graphiques de Dogecoin ont affich\u00e9 un double sommet potentiel alors que l&rsquo;int\u00e9r\u00eat ouvert s&rsquo;estompait.<\/p><h3>La r\u00e9glementation et la gouvernance comptent toujours<\/h3><p>Sur le plan politique, le patron de Coinbase, Brian Armstrong, a rencontr\u00e9 des banquiers autour d&rsquo;un projet de loi sur la structure du march\u00e9, tandis que Vitalik Buterin a critiqu\u00e9 le vote par jeton dans les DAO Ethereum. L&rsquo;Inde a \u00e9galement avanc\u00e9 l&rsquo;id\u00e9e d&rsquo;un pont CBDC pour les BRICS en r\u00e9ponse aux menaces tarifaires. Par cons\u00e9quent, bien que le prix soit influenc\u00e9 par la macro\u00e9conomie aujourd&rsquo;hui, le livre de r\u00e8gles de l&rsquo;industrie reste \u00e9galement en mouvement.<\/p><h3>En chiffres<\/h3><ul>  <li><b>Bitcoin<\/b>: sous les 92 000 $ apr\u00e8s avoir gliss\u00e9 d&rsquo;environ 98 000 $.<\/li>  <li><b>Ethereum<\/b>: environ 3 000 $, en baisse d&rsquo;environ 4 %.<\/li>  <li><b>Capitalisation totale du march\u00e9 crypto<\/b>: environ 3,08 billions \u00e0 3,21 billions de dollars.<\/li>  <li><b>Liquidations<\/b>: environ 500 millions de dollars de positions longues sur BTC en une heure.<\/li>  <li><b>Int\u00e9r\u00eat ouvert sur les contrats \u00e0 terme<\/b>: 136 milliards de dollars, en baisse par rapport aux 146 milliards.<\/li><\/ul><h3>KEY INSIGHT:<\/h3><ul>  <li>Surveillez le yen et les taux japonais en priorit\u00e9, car ils donnent le ton du d\u00e9sendettement.<\/li>  <li>Les 90 000 $ sur BTC semblent \u00eatre le champ de bataille imm\u00e9diat, avec un risque de squeeze au-dessus.<\/li>  <li>L&rsquo;or au-dessus de 4 600 $ signale une v\u00e9ritable aversion au risque, pas seulement une peur sp\u00e9cifique aux cryptomonnaies.<\/li>  <li>Les lancements DeFi et RWA comptent \u00e0 long terme, mais le stress du financement macro peut les submerger \u00e0 court terme.<\/li>  <li>Les effondrements au niveau des jetons augmentent g\u00e9n\u00e9ralement pendant les baisses, donc dimensionnez vos positions comme si les gros titres allaient s&rsquo;aggraver.<\/li><\/ul><hr><p>Pour en savoir plus sur ce sujet, consultez nos analyses approfondies sur <a href=\"https:\/\/volity.io\/fr\/actualites\/bitcoin-us-stablecoin-rules-altcoins-surge\/\">Bitcoin reste ferme alors que les r\u00e8gles sur les stablecoins am\u00e9ricains approchent et que les altcoins grimpent<\/a>, <a href=\"https:\/\/volity.io\/fr\/actualites\/bitcoin-custody-risk-layer-1-challengers\/\">Risque de garde Bitcoin et challengers Layer-1: BlockDAG vs les majeurs<\/a>, et <a href=\"https:\/\/volity.io\/fr\/actualites\/bitcoin-options-expiry-volatility\/\">Expiration des options Bitcoin et volatilit\u00e9 crypto: Manuel du trader<\/a>.<\/p><div data-volity-unique=\"1\" class=\"quick-answer\" style=\"background:#f7f7f7;border-left:4px solid #0066cc;padding:12px 16px;margin:16px 0;\"><strong>Quick Summary:<\/strong> Le carry trade sur le yen consiste \u00e0 emprunter des yens japonais \u00e0 faible rendement pour financer des actifs \u00e0 plus haut rendement \u00e0 l&rsquo;\u00e9chelle mondiale, y compris les actions am\u00e9ricaines et Bitcoin. Lorsque la Banque du Japon resserre sa politique ou que le yen s&rsquo;appr\u00e9cie fortement, les carry trades sont d\u00e9boucl\u00e9s, ce qui force les gestionnaires de fonds \u00e0 vendre des actifs risqu\u00e9s pour rembourser les emprunts libell\u00e9s en yens. Bitcoin chute aux c\u00f4t\u00e9s du Nasdaq lors de ces \u00e9pisodes, l&rsquo;escalade tarifaire agissant comme l&rsquo;amplificateur le plus fiable du d\u00e9bouclage.<\/div><p><strong>Ce que surveillent nos analystes:<\/strong> Trois lectures fa\u00e7onnent notre pile macro sur BTC lors d&rsquo;un \u00e9pisode de tarifs douaniers et de yen. La direction de USD\/JPY est le proxy le plus clair: une forte hausse du yen signale un d\u00e9bouclage de carry trade en cours. Les diff\u00e9rentiels de rendement \u00e0 deux ans entre les \u00c9tats-Unis et le Japon r\u00e9v\u00e8lent si le d\u00e9bouclage est structurel ou s&rsquo;il s&rsquo;agit d&rsquo;un ajustement de positionnement. Les annonces de tarifs douaniers \u00e0 25 % ou plus ont tendance \u00e0 d\u00e9clencher une aversion au risque g\u00e9n\u00e9ralis\u00e9e, ce qui comprime BTC aux c\u00f4t\u00e9s des actions. Lorsque les trois \u00e9voluent ensemble contre le risque, les baisses de BTC s&rsquo;\u00e9tendent; lorsque l&rsquo;un ou plusieurs s&rsquo;inversent, le mouvement ne dure g\u00e9n\u00e9ralement pas au-del\u00e0 du cycle de nouvelles.<\/p><hr><h2 class=\"wp-block-heading\" id=\"faq\">Foire aux questions<\/h2>    \n    <div class=\"faq-accordion\">\n                    <div class=\"faq-card\">\n                <div class=\"faq-question\">\n                    <span>Les d\u00e9bouclages de carry trade forcent les fonds macro \u00e0 effet de levier \u00e0 vendre des actifs risqu\u00e9s pour couvrir les emprunts libell\u00e9s en yens. Bitcoin se n\u00e9gocie 24\/7 avec une liquidit\u00e9 mondiale profonde, ce qui en fait une source de liquidit\u00e9s facile. Le r\u00e9sultat est une corr\u00e9lation \u00e9troite et \u00e9pisodique entre Bitcoin et les actions am\u00e9ricaines pendant les p\u00e9riodes de stress, m\u00eame si le cas de diversification \u00e0 long terme est diff\u00e9rent. La Banque des r\u00e8glements internationaux publie la recherche canonique sur la dynamique des carry trades transfrontaliers.<\/span>\n                    <span class=\"faq-arrow\">&#9662;<\/span>\n                <\/div>\n                <div class=\"faq-answer\">\n                    Pourquoi les tarifs douaniers font-ils bouger Bitcoin?                <\/div>\n            <\/div>\n                    <div class=\"faq-card\">\n                <div class=\"faq-question\">\n                    <span>L&#039;escalade tarifaire d\u00e9clenche deux canaux de transmission. Premi\u00e8rement, une aversion au risque g\u00e9n\u00e9ralis\u00e9e pousse les capitaux hors des actifs de croissance, ce qui corr\u00e8le historiquement BTC avec le Nasdaq pendant les p\u00e9riodes de stress. Deuxi\u00e8mement, la volatilit\u00e9 des devises augmente, ce qui accro\u00eet les co\u00fbts de couverture et force les fonds macro \u00e0 effet de levier \u00e0 r\u00e9duire les risques. Les deux canaux se cumulent. La R\u00e9serve f\u00e9d\u00e9rale am\u00e9ricaine suit les retomb\u00e9es politiques dans ses rapports sur la politique mon\u00e9taire.<\/span>\n                    <span class=\"faq-arrow\">&#9662;<\/span>\n                <\/div>\n                <div class=\"faq-answer\">\n                    Bitcoin est-il une valeur refuge lors des chocs tarifaires?                <\/div>\n            <\/div>\n                    <div class=\"faq-card\">\n                <div class=\"faq-question\">\n                    <span>Le bilan empirique est mitig\u00e9. Bitcoin a agi comme une valeur refuge lors d&#039;\u00e9pisodes sp\u00e9cifiques de d\u00e9pr\u00e9ciation mon\u00e9taire (Chypre 2013, Argentine, Liban, Turquie) mais se n\u00e9gocie comme un actif risqu\u00e9 \u00e0 b\u00eata \u00e9lev\u00e9 lors des chocs macro\u00e9conomiques traditionnels provoqu\u00e9s par la politique am\u00e9ricaine ou les d\u00e9bouclages de carry trade. Les investisseurs ne doivent pas traiter BTC comme une valeur refuge unidirectionnelle dans tous les r\u00e9gimes de stress. Investopedia publie un guide utile sur le comportement de BTC dans diff\u00e9rents r\u00e9gimes de stress.<\/span>\n                    <span class=\"faq-arrow\">&#9662;<\/span>\n                <\/div>\n                <div class=\"faq-answer\">\n                    Comment les investisseurs doivent-ils se positionner face au risque tarifaire et aux \u00e9v\u00e9nements de la BoJ?                <\/div>\n            <\/div>\n            <\/div>\n    <style>\n    .faq-accordion {\n        max-width: 800px;\n        margin: auto;\n        display: flex;\n        flex-direction: column;\n        gap: 10px;\n    }\n    .faq-card {\n        background: #fff;\n        border-radius: 8px;\n        border: 1px solid #ddd;\n        overflow: hidden;\n        box-shadow: 0 2px 6px rgba(0,0,0,0.05);\n        transition: box-shadow 0.3s ease;\n    }\n    .faq-question {\n        padding: 15px 20px;\n        font-weight: bold;\n        font-size: 1rem;\n        cursor: pointer;\n        display: flex;\n        justify-content: space-between;\n        align-items: center;\n        background: #f8f9fa;\n        transition: background 0.3s ease;\n    }\n    .faq-card:hover .faq-question {\n        background: #f1f3f5;\n    }\n    \n    \/* DEFAULT STATE - ANSWERS VISIBLE *\/\n    .faq-answer {\n        display: block !important;\n        padding: 15px 20px;\n        border-top: 1px solid #eee;\n        color: #444;\n        background: #fff;\n        animation: fadeIn 0.3s ease-in-out;\n        max-height: 1000px;\n        overflow: visible;\n        transition: max-height 0.3s ease, opacity 0.3s ease;\n        opacity: 1 !important;\n    }\n    \n    \/* HIDDEN STATE - When .active class is toggled *\/\n    .faq-card.active .faq-answer {\n        display: none !important;\n        max-height: 0;\n        opacity: 0 !important;\n        padding: 0 20px;\n    }\n    \n    \/* ARROW LOGIC *\/\n    .faq-arrow {\n        font-size: 1.2rem;\n        transition: transform 0.3s ease;\n        transform: rotate(0deg);\n    }\n    \n    .faq-card.active .faq-arrow {\n        transform: rotate(180deg);\n    }\n    \n    @keyframes fadeIn {\n        from { opacity: 0; transform: translateY(-5px); }\n        to { opacity: 1; transform: translateY(0); }\n    }\n    <\/style>\n    <script>\n    document.addEventListener(\"DOMContentLoaded\", function () {\n        document.querySelectorAll(\".faq-question\").forEach(function (question) {\n            question.addEventListener(\"click\", function () {\n                const card = this.parentElement;\n                card.classList.toggle(\"active\");\n            });\n        });\n    });\n    <\/script>\n    \r\n\r\n<hr><h2 class=\"wp-block-heading\" id=\"related-guides\">Guides associ\u00e9s<\/h2><ul><li><a href=\"https:\/\/volity.io\/fr\/crypto\/bitcoin\/\">Bitcoin expliqu\u00e9<\/a><\/li><li><a href=\"https:\/\/volity.io\/fr\/forex\/foreign-exchange-market-fr\/\">Le march\u00e9 des changes expliqu\u00e9<\/a><\/li><li><a href=\"https:\/\/volity.io\/fr\/forex\/forex-trading-pour-debutants\/\">Trading Forex pour d\u00e9butants<\/a><\/li><li><a href=\"https:\/\/volity.io\/fr\/crypto\/cryptocurrency-trading\/\">Trading de cryptomonnaies<\/a><\/li><li><a href=\"https:\/\/volity.io\/fr\/forex\/risk-management\/\">Gestion des risques<\/a><\/li><\/ul>\r\n\r\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/><div class=\"volity-authority-footer\" data-volity-authority=\"cleanup-2026-06-02\"><h3 class=\"wp-block-heading\">Sources v\u00e9rifi\u00e9es<\/h3><ul><li><a href=\"https:\/\/www.bis.org\/\" rel=\"noopener\" target=\"_blank\">Banque des r\u00e8glements internationaux<\/a><\/li><li><a href=\"https:\/\/www.federalreserve.gov\/\" rel=\"noopener\" target=\"_blank\">R\u00e9serve f\u00e9d\u00e9rale am\u00e9ricaine<\/a><\/li><li><a href=\"https:\/\/www.investopedia.com\/\" rel=\"noopener\" target=\"_blank\">Investopedia<\/a><\/li><li><a href=\"https:\/\/www.imf.org\/\" rel=\"noopener\" target=\"_blank\">FMI<\/a><\/li><\/ul><\/div>\r\n\r\n\n    <style>\n    .volity-coi {\n        background: #fff;\n        border: 1px solid #c5d8ee;\n        border-radius: 8px;\n        margin: 32px 0;\n        font-family: \"Inter\", sans-serif;\n        font-size: 13.5px;\n        line-height: 1.75;\n        color: #4a4a4a;\n        box-sizing: border-box;\n        width: 100%;\n        overflow: hidden;\n    }\n    .volity-coi .coi-heading {\n        display: block;\n        background: #2c6fad;\n        color: #fff;\n        font-size: 11px;\n        font-weight: 700;\n        letter-spacing: 0.09em;\n        text-transform: uppercase;\n        padding: 9px 22px;\n        margin: 0;\n    }\n    .volity-coi .coi-body { padding: 16px 22px; }\n    .volity-coi .coi-body p { margin: 0 0 10px 0; }\n    .volity-coi .coi-body p:last-child { margin-bottom: 0; }\n    .volity-coi a { color: #2c6fad; text-decoration: underline; }\n    @media(max-width:480px) {\n        .volity-coi .coi-body { padding: 14px 16px; font-size: 13px; }\n        .volity-coi .coi-heading { padding: 8px 16px; }\n    }\n    <\/style>\n    <div class=\"volity-coi\" role=\"note\">\n        <span class=\"coi-heading\">\u24d8 Divulgation<\/span>\n        <div class=\"coi-body\"><p>Volity exploite une plateforme de trading et publie \u00e9galement du contenu \u00e9ducatif et analytique sur le trading. Le contenu de cette page est uniquement \u00e0 des fins \u00e9ducatives et ne doit pas \u00eatre consid\u00e9r\u00e9 comme un conseil financier. Volity peut b\u00e9n\u00e9ficier commercialement lorsque les lecteurs ouvrent des comptes de trading via les liens pr\u00e9sents sur ce site.<\/p><p>Notre contenu est produit et r\u00e9vis\u00e9 selon des <a href=\"https:\/\/volity.io\/fr\/editorial-standards\/\">standards \u00e9ditoriaux<\/a> document\u00e9s ; la m\u00e9thodologie de comparaison et de revue est publi\u00e9e <a href=\"https:\/\/volity.io\/fr\/editorial-standards\/review-methodology\/\">ici<\/a>.<\/p><\/div>\n    <\/div>\n\r\n","protected":false},"excerpt":{"rendered":"<p>Le carry trade sur le yen et Bitcoin est un sujet central pour les traders en 2026. Voici le guide complet. Le [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":24177,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"custom_schema":"","footnotes":""},"categories":[229,223],"tags":[],"class_list":["post-41306","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-actualites","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.7 (Yoast SEO v27.8) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Bitcoin, le carry trade sur le Yen et les tarifs douaniers : comment les chocs macro\u00e9conomiques influencent le BTC<\/title>\n<meta name=\"description\" content=\"Comment les hausses du Yen, les chocs tarifaires et les flux d&#039;aversion au risque impactent le Bitcoin. 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