Yen Strength Lifts Bitcoin Amid Risk-On Flows

Bitcoin has seen an uptick in value as the United States and Japan coordinate to strengthen the Yen, reducing the appeal of holding Dollars and pushing capital towards risk assets.

This macro shift has repeatedly lifted Bitcoin whenever bond yields have compressed and currency volatility has risen over the past six months.

The current price of BTC sits at $63,151.21 within the Bollinger Bands, with an upper resistance at $65,090.44 and a lower support at $61,957.1.

Technical indicators suggest that upside is capped by the 50-EMA at $63,857.19 and the 200-EMA at $63,777.93, while the RSI at 44.94 remains neutral. The MACD golden cross at -296.71 hints at building momentum.