Bitcoin Leading Risk-On, Yen Tempering Risk-On

Bitcoin supports risk sentiment, while the Japanese Yen tempers it. In the meantime, yesterday’s afternoon rotation– selling cyclicals and accumulating some Tech (E.g.- Nvidia)– took hold in early trade. Just as USD/JPY bounced back from BOJ rate hike jitters near $156, and Bitcoin began settling into the notion that carry trade unwind (USD/JPY) fears tied…