Odaily News On Monday, cryptocurrencies were affected by risk aversion in global markets, with Bitcoin falling more than 10% at one point and Ethereum experiencing its biggest drop since 2021. Hayden Hughes, head of cryptocurrency investments at family wealth management company Evergreen Growth, said that as speculators adapted to higher interest rates in Japan, digital assets became part of the victims of the unwinding of yen carry trades. "These investors are also dealing with a sharp increase in hedging costs caused by fluctuations in the dollar-yen exchange rate." Justin D'Anethan, head of business development for Asia Pacific at market maker Keyrock, said the decline in the cryptocurrency market was to some extent led by Ethereum, due to the suspected news that Jump Crypto was selling Ethereum-related assets. (Bloomberg)