The rapid strengthening of the Japanese Yen triggered a pullback in financing arbitrage, forcing multi-asset leveraged accounts to deleverage, and Bitcoin liquidity thinning led to selling. Even without crypto news, the sharp decline in USD/JPY also increased margin requirements. BIS: ¥40 trillion in offshore loans. #比特币 # Japanese Yen
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The rapid strengthening of the Japanese Yen triggered a pullback in financing arbitrage, forcing multi-asset leveraged accounts to deleverage, and Bitcoin liquidity thinning led to selling. Even without crypto news, the sharp decline in USD/JPY also increased margin requirements. BIS: ¥40 trillion in offshore loans. #比特币 # Japanese Yen