Decoding Bitcoin’s Strong -0.90 Correlation With USD/JPY: Why the Carry Trade Narrative is Cracking
Bitcoin’s historical relationship with macro assets is undergoing a critical shift. Specifically, the 52-week rolling correlation coefficient between Bitcoin (BTC) and the USD/JPY currency pair has plunged to -0.90. This metric represents a historically tight inverse relationship, meaning BTC typically declines as the US Dollar strengthens against the Japanese Yen. From a quantitative standpoint, this … Read more