Is it true that Japan has been selling US treasuries and what does that really mean?

Japanese investors, including the Japanese central bank, have been long term loyal investors in the US dollar. Something appears to be changing and changing rapidly. There has been aggressive selling in US treasury bonds by Japanese investors. Ironically, in the last few weeks, Japanese investors have emerged as the largest sellers. Why is this happening?

In last 3 months, the largest institutional investor in Japan, which is the Japanese central bank, offloaded treasuries worth $60 billion. That is a lot but not much if you juxtapose with the total Japanese investments in US treasuries. Japan holds US treasuries worth a massive $1.3 trillion. However, Japan is worried about monetary divergence between Asia and the US. Asia is cautious about hiking rates, but Fed stays extremely hawkish on rates.