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Bitcoin Defies Yen Surge as Carry Trade Shock Tests Crypto Resilience

Beincrypto Read original source (opens in a new tab)
The Story

News Summary

  • The Japanese yen strengthened sharply to 154.50 per dollar, reigniting concerns over carry-trade unwinds.
  • Unlike August 2024, Bitcoin showed resilience by holding firmly above $79,000.
  • However, potential Bank of Japan rate hikes and declining currency intervention reserves keep macro pressure on risk assets.
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Stored market data

BTCUSD price history

77348.28 +14.67% over the displayed period

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