Source: Coindesk.com
Bitcoin's yen-denominated price on the Tokyo-based bitFlyer exchange dropped nearly 15%, significantly more than its dollar-denominated price on Western exchanges. This was influenced by the yen's sharp appreciation following Japan's 0.25% interest rate hike. The yen's strong performance, rising almost 10% against the USD in three weeks, led to the unwinding of carry trades, contributing
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The post "Bitcoin Drops 15% Against Japanese Yen, Outpacing Declines Versus USD, as Yen Carry Trades Unwind" appeared first here Coindesk.com.
Source: Coindesk.com
