Illustration by Mitchell Preffer for Decrypt. When people talk about crypto’s volatile nature, they’re referring to weeks like this. Bitcoin was at one point trading for below $50,000 per coin on Monday after a jobs report sparked fears that the U.S. economy was headed in the wrong direction. And a phenomenon dubbed the “carry trade”—a well-known trick where traders around the world use a different currency to buy risk assets denominated in dollars—seemed to be coming undone when the Japanese y...
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