Yen Slides Past 158 Per Dollar, Reviving Carry Trade Shock Risk for Bitcoin
- —Yen fell as much as 0.5% to 158.21 per dollar on Oct. 1, the worst G10 performer
- —Swaps pricing for a BOJ hike by Oct. 30 dropped below 20% from over 30%
- —Japan's 10-year government bond yield hit 3.075%, the highest since 1996
- —In August 2024, total crypto market cap fell nearly 18% from $2.16T to $1.78T
Why it matters: A sharp yen rebound could trigger forced unwinding of carry trades and a broad selloff in risk assets, including Bitcoin.
Source: crypto.news