The US intervened in currency markets by buying Japanese yen for the first time since 1998 to support the weakening yen, which had hit near a 40-year low against the dollar. Japan also intervened heavily, spending over $50 billion, with South Korea joining in. This move disrupted the yen carry trade, where traders borrow cheap yen to invest in riskier assets like stocks and Bitcoin. As a result, Bitcoin fell nearly 1.25% to around $63,000 while US stocks rose. The yen's strength could pressure risk assets further if the dollar-yen rate stays below 160, with key developments expected after Japan's official intervention data release and upcoming G20 finance meetings.
Bitcoin options data reveals a bullish medium-term outlook with call options making up 62% of open interest, indicating traders expect higher prices. However, recent trading volume has shifted toward put options, reflecting increased demand for short...
Top futures traders significantly increased their long positions in Bitcoin and Ethereum, especially in USD-margined markets, indicating a rising appetite for leverage and potential market volatility. Data shows Bitcoin longs rose to 61.72% and Ether...
Bitcoin is set to close July with a 7.5% gain despite challenges like rising interest rate expectations, higher bond yields, and a $38 million Coldcard wallet hack. Analysts attribute Bitcoin's resilience to reduced forced selling after leveraged pos...
The 30-year U.S. Treasury yield hit its highest level since 2007, making bonds more attractive and drawing capital away from riskier assets like cryptocurrencies. This shift has contributed to a significant drop in crypto market value, with Bitcoin l...
Bitcoin fell 3.5% to $62,369, its lowest in over two weeks, influenced by stagnant US markets and renewed global macroeconomic tensions. While Wall Street struggled, the South Korean KOSPI index surged 17.9%, driven by the AI and semiconductor sector...
