Bitcoin rallied 5% to reclaim $80,000 as the US dollar weakened amid a suspected Bank of Japan currency intervention, though analysts remain split on the impact.
Source: Cointelegraph
Bitcoin reclaims $80K as DXY falls amid continuing suspected yen intervention
Bitcoin surged back above $80,000 on Tuesday, driven by a sharp dip in the U.S. Dollar Index (DXY) as the greenback weakened against major currencies. The rally came amid growing speculation that Japanese authorities were intervening to support the yen after it fell to a 34‑year low against the dollar. Traders noted that the yen’s decline and the DXY’s slide created a favorable environment for risk assets, prompting renewed buying in the cryptocurrency market. Analysts cautioned that Bitcoin’s momentum could be fragile if the dollar regains strength or if further macro‑economic data shifts sentiment.