Bitcoin plunges during global yen and carry-trade selloff
Bitcoin falls sharply during a broad global risk-off episode tied to a surging yen, carry-trade unwinding, and recession fears.
On August 5, 2024, Bitcoin plunges during global yen and carry-trade selloff. Bitcoin falls sharply during a broad global risk-off episode tied to a surging yen, carry-trade unwinding, and recession fears.
Bitcoin sold off alongside equities and other risk assets during a rapid repricing of global leverage tied to yen strength, Japanese monetary policy and U.S. growth concerns. The episode showed Bitcoin trading as part of a broader liquidity shock.
The episode became a reference point for how Bitcoin traded within a rapidly changing market structure shaped by spot ETFs, macro liquidity and shifting policy expectations.