Japanese cryptocurrency exchange BitFlyer experienced a 200% surge in trading volume over the past 24 hours, outpacing Coinbase's 112% and Binance's 75% increases. This spike coincides with significant declines in Asian stock markets, where Japan's Nikkei 225 fell approximately 6.5%, South Korea's KOSPI dropped about 8% triggering a circuit breaker, and Taiwan's TAIEX decreased by around 4.9%. Analysts attribute the increased trading activity to heightened market volatility driven by soaring oil prices and geopolitical tensions in the Middle East, which have intensified risk-averse sentiment. As a result, Japanese investors are turning to Bitcoin trading as a hedge against stock market losses.