Crypto was once touted as a ‘safe haven’ asset – why did it crash too this week? (theconversation.com)

submitted 11 months ago by [email protected] to c/[email protected]

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[-] [email protected] 32 points 11 months ago

Because the people who touted it as a safe haven were the same ones selling it

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[-] [email protected] 3 points 11 months ago* (last edited 11 months ago)

Some big institution bois took massive loans in yen and bought assets with it. Then annoying japan raised the rates! Panic sell to pay loans, because bosses told them so.

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this post was submitted on 08 Aug 2024

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