Arthur Hayes has sounded the alarm regarding Bitcoin, highlighting potential risks as the Japanese Yen strengthens. He warns that this could lead to a carry trade unwind event, similar to the sell-off witnessed in early August.
In such a scenario, investors might move away from Bitcoin to safer currencies like the Yen, resulting in significant price movements and instability in the crypto market.
This warning comes at a critical time, as the crypto market already faces various challenges and uncertainties.
