Bitcoin's quiet split: Strong in USD, lagging in JPY as Yen rises on intervention fears
CoinDesk·
60-second summary
Bitcoin is experiencing a quiet split, with its value holding strong in USD but lagging behind in JPY due to a sharp rise in the yen. The yen's surge, fueled by intervention fears, is causing a divergence between dollar-based and yen-based trading pairs, resulting in underperformance for major cryptocurrencies in yen terms.
A sharp rise in the yen has left bitcoin and other major cryptocurrencies underperforming in yen terms compared with their dollar-based trading pairs.