Bitcoin Drops 15% Against Japanese Yen, Outpacing Declines Versus USD, as Yen Carry Trades Unwind
Japan raised interest rates by 0.25% last week, leading to a strong Yen and a corresponding drop across risky assets including bitcoin.
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Japan raised interest rates by 0.25% last week, leading to a strong Yen and a corresponding drop across risky assets including bitcoin.
A sentiment index that tracks crypto markets changed to “fear” early Monday, suggesting a possible sign of a near-term local bottom.
A wallet supposedly associated with Jump Trading moved 17,576 ETH to centralized exchanges, according to Spot On Chain.
Japan’s Nikkei fell more than another 6% early Monday, bringing that index’s three-day decline to about 15%.
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More than $1.5 billion of exits from Grayscale’s high-fee Ethereum Trust more than offset inflows into the other spot products.
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