Bitcoin Drops 15% Against Japanese Yen, Outpacing Declines Versus USD, as Yen Carry Trades Unwind
Briefly

from Coindesk6 months ago
Bitcoin's yen price fell 15% on bitFlyer, higher than the 11% drop on Western exchanges due to yen's rapid appreciation post Japanese interest rate hike.
Coindeskhttps://www.coindesk.com/markets/2024/08/05/bitcoin-drops-15-against-japanese-yen-outpacing-declines-versus-usd-as-yen-carry-trades-unwind/
Yen's 10% surge against USD in 3 weeks led to unwinding of carry trades, prompting sell-off in assets like bitcoin and a significant increase in trading volume on bitFlyer.
Coindeskhttps://www.coindesk.com/markets/2024/08/05/bitcoin-drops-15-against-japanese-yen-outpacing-declines-versus-usd-as-yen-carry-trades-unwind/
Read at Coindesk
#bitcoin #bitflyer #yen #interest-rate-hike #sell-off
[
|
]