Crypto
Yen Market Intervention Report Triggers Cryptocurrency Price Slump
A sharp decline in cryptocurrency prices occurred on July 31 after a Reuters report indicated that the U.S. Treasury had informed banks to prepare for possible intervention in the yen market.
The news sent shockwaves through global markets, causing a sudden reversal in U.S. equities and leading to significant losses across major cryptocurrencies.
Bitcoin fell 3.5% over 24 hours, while other major cryptocurrencies such as Ethereum and XRP lost 3.3% and 2.8%, respectively.