Bitcoin holds $79,000 as yen gains 3.7% in three sessions

  • Bitcoin held above $79,000 as the yen strengthened against the dollar.
  • The yen gained 3.7% over three trading sessions, according to BeInCrypto.
  • Bitcoin and Ether fell as much as 20% during the August 2024 unwind.

Bitcoin remained above $79,000 as the yen gained 3.7% over three trading sessions, a different market response from August 2024, when a sharp yen rise triggered a broad unwinding of the yen carry trade and pushed Bitcoin and Ether down as much as 20%. BeInCrypto reported on Sept. 7 that the dollar-yen exchange rate fell to 154.50 yen on Monday from 160.39 yen the previous Wednesday. The outlet said Bitcoin had withstood the first yen-related shock.

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