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Bitcoin slips as Iran escalation and yen strength weigh on risk assets
Bitcoin failed to reclaim the $80,000 level as yen strength around 153 per dollar fueled concerns about a carry-trade unwind.
Bitcoin traded lower as US stocks moved down amid escalating tensions tied to Iran, adding to broader risk-off sentiment, according to Cointelegraph.
Cointelegraph said the decline also coincided with dollar strength versus the yen, with expectations that yen carry trades could unwind.
The outlet pointed to US Treasury Secretary Scott Bessent as a factor contributing to fears of a carry-trade pullback.
As a result, Bitcoin was unable to reclaim the $80,000 level referenced by Cointelegraph while markets digested the shifting macro outlook.
Latest closeBitcoin $78,536.73 ▲0.1%