Dollar Strength

A former Bank of Japan official has warned that the central bank may raise rates rapidly this year, potentially pushing borrowing costs above 2% as the yen keeps weakening. For bitcoin, the implications are not straightforward, with tighter Japanese policy potentially pressuring risk assets even as BTC and the yen have recently moved together against the dollar.

Bitcoin has spent five days trading in a narrow band around $59,000 to $60,000, keeping traders on edge as technical signals remain weak. Analysts say a downside break could open the door to a move toward $40,000.

Major cryptocurrencies slipped as a weaker Japanese yen boosted the U.S. dollar and pressured risk assets across the digital-asset market. Bitcoin stayed below $60,000 while traders watched muted onchain demand and the possibility of large Strategy sales.

Major cryptocurrencies fell this week as traders chased the AI stock rally, leaving crypto under fresh pressure. Bitcoin held up better than most, repeatedly bouncing near $58,000.