📉🤔 $BTC #Matrixport : Many attribute the Bitcoin sell-off to the unwinding of Japanese Yen carry trades. Bitcoin is becoming a casualty as numerous financial market participants, who borrowed yen to invest in higher-yielding assets, are now reversing their positions.

The Bank of Japan's unexpected interest rate hike, coupled with traders' expectations of a rate cut from the Federal Reserve, has increased central bank uncertainty and led to deleveraging in the system. According to some traders, this is driving the decline in Bitcoin prices.