CryptoCoinDeskabout 1 hour ago
Yen intervention revives bitcoin carry trade fears
1 min read
USD/JPY reversed from nearly 164 to 156.5 after the U.S. joined Japan in coordinated intervention. Treasury Secretary Scott Bessent confirmed the move and warned of further joint action. Bitcoin's 52-week correlation with USD/JPY hit minus 0.90, pointing to dollar strength, not yen, as the driver.
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