Bitcoin's 52-week correlation with USD/JPY hits -0.90, undercutting 'carry trade' theory
2026-06-30 07:36:44
Bitcoin’s price has shown an unusually strong negative 52-week correlation with the USD/JPY exchange rate, according to CoinDesk, with the correlation hitting -0.90. The move undercuts the theory that bitcoin is behaving like a “carry trade” tied to dollar-yen dynamics.
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