Bitcoin’s Inverse Yen Link: Unpacking the -0.90 Correlation & Carry Trade Rethink
Bitcoin (BTC) has recently exhibited an unusually strong inverse relationship with the dollar-yen (USD/JPY) exchange rate, reaching a 52-week rolling correlation coefficient of -0.90. This significant negative correlation, the most pronounced since late 2022, implies that the price of the world’s largest cryptocurrency tends to move in the opposite direction to the Japanese yen against … Read more