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Bitcoin Drops 15% Against Japanese Yen, Outpacing Declines Versus USD, as Yen Carry Trades Unwind

The yen's strong performance, rising almost 10% against the USD in three weeks, led to the unwinding of carry trades, contributing to the sell-off in risk assets and causing significant market volatility.

yen, dollar. (Shutterstock)
yen, dollar. (Shutterstock)