• Dapps:16.23K
  • Blockchains:78
  • Active users:66.47M
  • 30d volume:$303.26B
  • 30d transactions:$879.24M

Yen Strengthens, Impacting Cryptocurrencies

user avatar

by Giorgi Kostiuk

a year ago


  1. Yen and Cryptocurrencies: Current Situation
  2. Yen vs. Major World Currencies
  3. Bitcoin Prospects Amid Yen Strengthening

  4. The Japanese yen is flexing its muscles again, and if you’re into crypto, it’s time to pay attention. Recently, the yen has been making some serious moves against the U.S. dollar, and it is a full-on rally.

    Yen and Cryptocurrencies: Current Situation

    Since late Thursday, the yen has surged by 2.4%, hitting 145 per dollar. This sudden strength is bad news for riskier investments like Bitcoin and other cryptocurrencies, as it often signals a flight to safety among investors.

    Yen vs. Major World Currencies

    The yen is also making life hard for other major currencies like the Australian dollar, euro, and British pound. Against the Aussie, often seen as a gauge for market risk appetite, the yen has jumped more than 1%.

    Bitcoin Prospects Amid Yen Strengthening

    Earlier this month when the yen last flexed its muscles, Bitcoin took a hit. It dropped from about $70,000 to $50,000 in just eight days, before clawing its way back to $60,000.

    Right now, Bitcoin is stuck in a consolidation. It’s been staying around the $58,000 to $60,000 range, and there’s no clear sign of which way it’s going to go. At press time, it was trading at about $58,652, down 1.6% from the previous day.

    The problem? There’s selling pressure and not enough buyers stepping in. That could mean more sideways trading in the days to come. So if you’re waiting for a breakout, you might be in for a long wait.

    August has been a rough month, with Bitcoin down about 9%. Compare that to the global stock markets, which have actually gained almost 1%, and yeah, you get it.

    Bitcoin tried to break through the $62,000 resistance level earlier this week, but it didn’t happen. Analysts are seeing signs of weakness, and that’s never a good thing when you’re hoping for a rally.

    Even the ETFs aren’t doing much to boost the mood. Bitcoin ETFs recently saw about $13 million in net flows, which might sound like a lot, but it’s not enough to turn the tide.

    Overall, the enthusiasm that once surrounded these investment vehicles seems to be fading. And if you’re worried about the U.S. government unloading seized Bitcoin onto the market, you’re not alone. That could add even more downward pressure on prices, making it even harder for Bitcoin to make a comeback.

0

Rewards

chest
chest
chest
chest

More rewards

Discover enhanced rewards on our social media.

Other news

Bitcoin Price Fluctuations and the Decline of Altcoins

chest

Bitcoin's climb to nearly $110,000 was short-lived, falling back to $108,000, while most altcoins also recorded losses.

user avatarGiorgi Kostiuk

China Threatens Retaliation Against US Tariff Reimposition

chest

China warns the US of possible consequences if tariffs are restored and urges dialogue on trade matters.

user avatarGiorgi Kostiuk

Current Trends in the Memecoin Market: Floki, Fartcoin, and Shiba Inu

chest

The memecoin market sees Floki gaining traction, while Fartcoin slips and Shiba Inu shows weak interest.

user avatarGiorgi Kostiuk

Hong Kong Introduces Unique Stablecoin Regulation: Licenses Capped at Single Digits

chest

Hong Kong will limit stablecoin licenses to single digits starting August 2025, impacting the market and transaction costs.

user avatarGiorgi Kostiuk

Coin Center and US Treasury Conclude Legal Fight Over Tornado Cash Sanctions

chest

Coin Center and the US Treasury have concluded a long-standing legal battle concerning sanctions against crypto mixer Tornado Cash.

user avatarGiorgi Kostiuk

Market CELO/USDT: Channel Breakout and Growth Ahead

chest

Market analysis for CELO/USDT shows a channel breakout and potential growth towards $0.42.

user avatarGiorgi Kostiuk
dapp expert logo
© 2020-2025. DappExpert. All rights reserved.
© 2020-2025. DappExpert. All rights reserved.

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.