According to CoinMeta, CryptoMichNL indicates that if Japan sells its U.S. Treasury bonds, it is expected that U.S. yields will decline, weakening the rationale for holding dollars, which will lead to a fall in the dollar. Liquidity will shift to other risk assets, potentially driving up the Nasdaq index ($NQ) and Bitcoin ($BTC), while Ethereum ($ETH) is expected to perform better than other assets, experiencing its first increase.