Bitcoin holds near $66,300 as chips extend their rally and the yen hits a 40-year low
Semiconductor stocks led a second day of gains on AI optimism, while the yen slid past 163 per dollar for the first time since 1986.
Source: CoinDesk
―
DW NOTE
The yen is at 163 per dollar because the BOJ has been capping rates while the Fed holds them high — a policy wedge that can end only in capitulation or intervention. A 40-year low is not background noise; it is the sound of a major central bank losing control of its currency. Bitcoin at $66,300 benefits from the chip rally for now, but the real story is what happens when Japan's carry trade unwinds.