A Year Ago Today, Bitcoin Hit $49K on Yen Carry Trade Unwind, Now It's Up 130%

coindesk.com/markets/2025/08/05/a-year-ago-today-bitcoin-hit-usd49k-on-yen-carry-trade-unwind-now-it-s-up-130

One-year ago today, markets were rattled by the unwind of the yen carry trade. As Japan shifted toward a tighter monetary policy and bond yields rose, the strategy of borrowing in a low-interest currency like the yen to buy higher-yielding assets became less attractive.
At the time,…

This story appeared on coindesk.com, 2025-08-05 09:11:26.
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