Bitcoin’s price has shown an unusually strong negative 52-week correlation with the dollar-yen exchange rate. Bitcoin’s price has shown an unusually strong negative 52-week correlation with the dollar-yen exchange rate, with about 81% of its weekly moves statistically explained by shifts in USD/JPY. This pattern means bitcoin and the yen have recently tended to move together against the dollar, challenging the traditional yen carry-trade view that a stronger yen should hurt crypto and other ris…
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