Bitcoin fails to reclaim $80K as Bessent fuels yen strength around 153 per dollar
Bitcoin trended lower with US stocks on Iran escalation while US Treasury Secretary Scott Bessent contributed to fears of a yen carry-trade unwind.
Bitcoin trended lower with US stocks on Iran escalation while US Treasury Secretary Scott Bessent contributed to fears of a yen carry-trade unwind.
Data from TradingView showed the local upside in the BTC/USD pair reversing as it attempted to revisit the $80,000 mark. BTC is currently down by around 0.4% on the day.
US stocks also drifted lower at the Wall Street open, fueled by fresh US strikes on Iranian oil tankers. The tensions helped send oil prices to new three-month highs, building on gains from the day prior.
Citing data from Bloomberg on Wednesday, Barchart flagged record yen short positioning at the start of September, with the total hovering above 5 trillion yen.