The old relationship between the dollar and yen is no longer working as it used to.
Previously, whenever US interest rates were higher relative to Japan's, the dollar strengthened against the yen.
🔻 Now the opposite is happening... Despite the lower US interest rate advantage, the yen has continued to weaken instead of recovering.
✅ The reason: Investors have exited carry trades due to increased volatility, and the yen's movements are now influenced by other factors, such as the financial situation in Japan, and not just the interest rate differential.
For crypto traders...
The changing movements of global currencies affect liquidity and risk appetite, which can be reflected in the performance of assets like BTC and the rest of the crypto market.
Coinbase has seen significant inflows of #Bitcoin after a period of stagnation, while demand in the US remains weak.
Inflows of coins held for 3-5 years have increased by 595%, while those held for 5-7 years have risen by 1016%, potentially increasing selling pressure due to fewer buyers able to absorb the growing supply.
🇯🇵 #Japan tightens the noose: Bitget announces its final exit from the Japanese market by December 31st! 🛑 📉 ⚠️
🚫 In compliance with the FSA... registration will cease immediately and all positions will be liquidated by November to avoid billions in penalties! ✅ 🏛️ ⚖️ 😱
🚀 Led by Tom Lee: Bitmine continues its #Ethereum dominance and launches a massive share buyback program! 💰 💎 📈
🌟 Digital accumulation and financial backing... The company makes a strong statement on Wall Street to boost its stock value and solidify its dominance in the crypto market! ✅ 🏛️ 📊 👑
🐋 Whale Moves: Trump Media Transfers $165M of #Bitcoin to Crypto com! 🇺🇸 💰 📈
⚠️ Liquidity Under Scrutiny: The company is emptying part of its portfolio... and markets are watching for Sailor Politics' intention to sell! ✅ 🏛️ 📊 😱