CryptoCoinDeskabout 3 hours ago
Bitcoin-Yen Correlation Hits -0.90, Undercuts Carry Trade Theory
1 min read
Bitcoin's 52-week correlation with USD/JPY hit -0.90, the most negative since late 2022. Roughly 81% of Bitcoin's weekly moves are explained by dollar-yen shifts. This challenges the carry trade theory that yen strength should hurt crypto, as Bitcoin and the yen now move together against the dollar.
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