Woofun AI data shows that Bitcoin posted stronger gains on Japanese exchanges compared to South Korean platforms in July, as the yen weakened to its lowest level in four decades. On bitFlyer, Bitcoin rose 14.57% during the month, while on Upbit, the gain was 9.21%. The dollar-yen exchange rate climbed from 161 to 163.16, marking continued depreciation, whereas the dollar-won rate fell from 1,552 to 1,480 won.

The widening spread reflects how macroeconomic factors create regional price divergence. A weaker yen increases the local-currency value of dollar-denominated assets, amplifying returns for Japanese investors. This dynamic contributes to a "Japan premium" during periods of yen depreciation, driven by the Bank of Japan’s ultra-loose monetary policy and policy divergence with the United States.