Live updates: Bitcoin at $63,600 as rare US-Japan yen action tests carry-trade fears
CoinDesk·
60-second summary
Japan is reportedly spending up to $36.6 billion to buy yen in a joint US-Japan action, its first since 1998, testing carry-trade fears. This rare intervention aims to slow a disorderly slide, but according to Bitget Wallet's Alvin Kan, it may not reverse the broader trend, potentially impacting global markets and cryptocurrency prices, including Bitcoin's current value at $63,600.
Japan may have spent as much as $36.6 billion buying yen in the first joint US-Japan action to support the currency since 1998. Bitget Wallet’s Alvin Kan says it can slow a disorderly slide without reversing the broader trend.