Hedge funds reportedly built one of their biggest bearish bets against the Japanese yen in years, lining up around 85,000 net short contracts as pressure on the currency grows. As yen stress picked up, Bitcoin slipped below $87,000 in early December, with around$527 million in long positions wiped out in just 24 hours. All of this sits inside a bigger macro story. The rising Japanese bond yields, shifting central bank policies, and a huge yen “carry trade” that now spills directly into our crypto portfo ...