According to Cryptofrontnews, Bitcoin fell 5% to $86,000 as the Bank of Japan (BOJ) increased the probability of a rate hike to 76% on December 19, pushing Japan’s 2-year yield to 1.84%, the highest since 2008. The shift triggered a rapid unwind of the yen carry trade, leading to global risk reduction and affecting Bitcoin and other assets. Milk Road noted that the sell-off was driven by macroeconomic pressures rather than structural issues in the crypto market, as traders adjusted portfolios amid rising funding costs and uncertainty.
Bitcoin Drops 5% Amid BOJ Rate Hike Expectations and Yen Carry Trade Unwind
CryptofrontnewsShare
Source:Show original
Disclaimer: The information on this page may have been obtained from third parties and does not necessarily reflect the views or opinions of KuCoin. This content is provided for general informational purposes only, without any representation or warranty of any kind, nor shall it be construed as financial or investment advice. KuCoin shall not be liable for any errors or omissions, or for any outcomes resulting from the use of this information.
Investments in digital assets can be risky. Please carefully evaluate the risks of a product and your risk tolerance based on your own financial circumstances. For more information, please refer to our Terms of Use and Risk Disclosure.