According to experts, Bitcoin [BTC] risk could compound amid an ongoing Japanese-linked carry trade unwind. The largest crypto asset saw a relief rally to $58K earlier in the week, but erased some gains after the Trump-Harris US presidential debate.

The sell-off in early August, which saw Bitcoin plunge to $49K, was linked to the strengthening of the Japanese Yen against the US dollar. A similar trend has now been flashed, prompting BitMEX founder Arthur Hayes to sound a risk warning.

Hayes warned that the carry trade unwind could affect BTC, suggesting the possibility of a similar event to the early August sell-off. Experts are closely monitoring the situation, as the ongoing US elections and the Japanese Yen's strength could have a significant impact on the cryptocurrency market.

Source: https://ambcrypto.com/bitcoin-arthur-hayes-sounds-alarm-as-japanese-yen-strengthens/

The information provided in this article is for informational and educational purposes only, based on news and sources gathered from the internet. This content should not be considered as investment advice, financial guidance, or a suggestion to buy or sell any digital assets. Before making any financial decisions, we recommend consulting with a professional financial advisor and conducting your own research. The author and the blog are not responsible for any losses or damages that may arise from using this content.