Crypto
US and Japan Unleash $36.6 Billion in Rare Joint Intervention
The value of Bitcoin held steady near $63,600 on Monday as an unprecedented joint currency intervention by the United States and Japan shook up global markets.
The move, which saw Japan deploy as much as $36.6 billion to buy yen, aimed to slow a disorderly slide that threatened to accelerate the unwinding of yen-funded positions globally, according to CoinDesk.
Bitcoin's ability to hold its ground despite the intervention news suggests the market is not yet pricing in a systemic unwind. Short-term options skew remained neutral, and spot volume showed no acute panic.