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Bitfinex Flags Yen Carry Trade Reversal as 'Clearest Macro Risk' to Bitcoin and Ethereum

Forex Macroeconomics Stocks

2026-07-11 01:37:30

BTC0.28%

ETH1.38%

According to Bitfinex analysts, the reversal of the yen carry trade poses the clearest macro risk to bitcoin and ethereum. With the yen trading near 162 against the dollar and Japan's 10-year yield at new highs, a sharp yen reversal could tighten global liquidity and pressure BTC and ETH, according to the exchange.

Japan's central bank deployed approximately $73 billion in foreign exchange interventions between April and May to support the yen, but such efforts had limited impact on a forex market that handles over $1.6 trillion in daily volume, or about 17% of all global trade.

Disclaimer: The information on this page may come from third-party sources and is for reference only. It does not represent the views or opinions of Gate and does not constitute any financial, investment, or legal advice. Virtual asset trading involves high risk. Please do not rely solely on the information on this page when making decisions. For details, see the Disclaimer.

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