{"id":29032,"date":"2024-09-11T21:00:29","date_gmt":"2024-09-11T18:00:29","guid":{"rendered":"https:\/\/coinengineer.net\/blog\/?p=29032"},"modified":"2024-09-11T18:15:06","modified_gmt":"2024-09-11T15:15:06","slug":"crypto-expert-hayes-sounds-the-alarm-on-bitcoin","status":"publish","type":"post","link":"https:\/\/coinengineer.net\/blog\/crypto-expert-hayes-sounds-the-alarm-on-bitcoin\/","title":{"rendered":"Crypto Expert Hayes Sounds the Alarm on Bitcoin!"},"content":{"rendered":"

Arthur Hayes, the founder of BitMEX, has issued a cautionary statement, suggesting that upcoming developments in Japan could spell trouble for Bitcoin (BTC) prices.<\/p>\n

According to analysts, the ongoing unwinding of Japan-related carry trades could heighten risks for BTC. Although the leading cryptocurrency surged to $58,000 earlier this week, it failed to inspire confidence. Factors like the absence of crypto discussions in the Trump-Harris debate and Trump\u2019s sliding poll numbers have also contributed to Bitcoin’s price fluctuation.<\/p>\n

Amid these events, Arthur Hayes delivered a bold message on the X platform, warning his followers:<\/p>\n

“The USD\/JPY pair is breaking down, heading towards 140. Markets are turning into a ghost town again. Let\u2019s see if BTC can hold on.”<\/p>\n

Will Bitcoin Decline as the Yen Strengthens?<\/strong><\/p>\n

Experts suggest that alongside the U.S. elections, the ongoing unwinding of carry trades\u2014which triggered a $49,000 drop in Bitcoin at the start of August\u2014could persist and continue to impact BTC.<\/p>\n

In carry trades, investors borrow in low or zero-interest currencies to invest in higher-yield assets. When the Bank of Japan raised interest rates for the first time in August, it led to a massive unwinding of carry trades and caused turmoil in global markets. Hayes is concerned that the \u201ccrash\u201d witnessed in August may happen again.<\/p>\n

Yardeni Research noted:<\/strong><\/p>\n

\u201cExpectations that the Fed will lower interest rates while the Bank of Japan raises them are strengthening the yen, forcing investors to unwind their carry trades.\u201d<\/p>\n

Yardeni also mentioned that if the Fed cuts rates by 50 basis points and adopts a looser monetary policy, carry trade activity may persist.<\/p>\n

In summary, the strengthening yen and continued unwinding of carry trades could put further pressure on Bitcoin<\/a>. Investors should remain cautious amid these potential risks.<\/p>\n

You can freely share your thoughts and comments about the topic in the comment section. Additionally, please don\u2019t forget to follow us on our\u00a0Telegram<\/strong>,<\/a>YouTube<\/strong><\/a>\u00a0and\u00a0Twitter<\/strong><\/a>\u00a0channels for the latest\u00a0news<\/a>\u00a0and updates.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Arthur Hayes, the founder of BitMEX, has issued a cautionary statement, suggesting that upcoming developments in Japan could spell trouble for Bitcoin (BTC) prices. According to analysts, the ongoing unwinding of Japan-related carry trades could heighten risks for BTC. Although the leading cryptocurrency surged to $58,000 earlier this week, it failed to inspire confidence. Factors<\/p>\n","protected":false},"author":1,"featured_media":9020,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[2545,7721,61,60],"class_list":["post-29032","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-arthur-hayes","tag-bank-of-japan","tag-bitcoin","tag-btc"],"yoast_head":"\nCrypto Expert Hayes Sounds the Alarm on Bitcoin! - Coin Engineer<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/coinengineer.net\/blog\/crypto-expert-hayes-sounds-the-alarm-on-bitcoin\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Crypto Expert Hayes Sounds the Alarm on Bitcoin! - Coin Engineer\" \/>\n<meta property=\"og:description\" content=\"Arthur Hayes, the founder of BitMEX, has issued a cautionary statement, suggesting that upcoming developments in Japan could spell trouble for Bitcoin (BTC) prices. 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