From Investing.com

August 3, 2024 10:30 AM:

Bitcoin (BTC) experiences a 10% drop in less than a month, following Japan stocks downturn. Arthur Hayes, crypto entrepreneur, sees buying opportunities in this volatile market. USD/JPY pair collapse contributes to BTC decline, leading to potential “widow maker” effect highlighted by Hayes.

Hayes views market recession as a chance to “go shopping” as JPY strengthens by 10%, stabilizing at 140 JPY per USD since hitting local bottom on July 11. Bitcoin falls below $61,000 from $70,000 in three days, losing 14% since July 29 rejection.

Nikkei 225 index suffers 5.81% drop, worst since 1987 Black Monday, while broader TOPIX index falls by 6.14%. U.S. unemployment rate hits 4.3%, with Fed rate cuts anticipated in September adding to global market volatility. Japanese stocks face second-largest drop in history, reflecting high pressure.

Read more at Investing.com: ‘Time to Go Shopping’ By U.Today