Bitcoin Defies Yen Shock with $79k Hold
The yen's recent surge has triggered a 3.7% gain over three trading sessions, but Bitcoin has held firm at $79,000.
This diverges from what happened in August 2024 when a sharp rise in the yen led to a broad unwinding of the yen carry trade, causing Bitcoin and Ether (ETH) to plummet by as much as 20%.
In contrast, this time around, Bitcoin has withstood the first yen shock, defying expectations.