An unintuitive explanation for why everything is down

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@jonwu_
@jonwu_

It seems unintuitive that a small 25 basis point interest rate hike in Japan would spike all risk assets, including tonight's -20% $ETH candle. But you need to understand the way the carry trade works: It's a leveraged unwinding.

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An unintuitive explanation for why everything is down

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This was also pretty useful