Bitcoin Stalls Near $78,000 as Yen Surges Past 160 and Dollar Rises

Bitcoin remains steady near $78,000 as of Asian morning hours Monday, down less than 1% over the past 24 hours but up about 1% on the week.

Solana and dogecoin led the decliners, each falling roughly 3%, with hyperliquid and XRP close behind. Ether, BNB, zcash, and tron all held steady within 2% of flat.

The yen has broken through the 160 per dollar threshold and is trading near that level in Tokyo on Monday.

Strategists expect potential intervention triggers as close as 161, with further triggers anticipated at levels between 162 and 163. However, the currency has already unwound more than half of its gains from a record July operation where the U.S. joined Japan for coordinated yen buying since 1998.