Bitcoin declined and failed to reclaim the $80,000 level amid broader weakness in US stock markets and a strengthening yen. According to CoinTelegraph, tensions related to Iran contributed to the downward trend in both Bitcoin and equities.
Market concerns were further heightened by remarks from US Treasury Secretary Scott Bessent, which sparked fears of a yen carry-trade unwind. This dynamic pushed the yen higher, with the currency trading around 153 yen per dollar, putting additional pressure on risk assets like Bitcoin.
For Japanese investors, the yen’s recent appreciation against the dollar remains a critical factor influencing cross-asset flows, especially in FX and crypto markets where carry trades have been popular.