CoinDesk·3 min read·hard
U.S.-Japan intervention revives yen carry trade fears for bitcoin
J
James Van Straten
✦AI Summary
Recent U.S. and Japanese government statements regarding potential currency intervention have reignited concerns about the yen carry trade's impact on bitcoin. While historical data suggests bitcoin drops when the yen strengthens, recent analysis indicates that broader U.S. dollar trends may be a more significant driver of crypto market volatility.
"We will not hesitate to participate in further joint intervention," Bessent wrote on X , adding that the U.S. "strongly supports Japan's decisive market and monetary steps to correct the substantial undervaluation of the yen."
businesscryptoeconomy
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