Bitcoin's quiet split: Strong in USD, lagging in JPY as Yen rises on intervention fears
A sharp rise in the yen has left bitcoin and other major cryptocurrencies underperforming in yen terms compared with their dollar-based trading pairs.
Source: CoinDesk
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DW NOTE
The yen rose 0.5% and crypto traders noticed — BTC/JPY up 0.68%, BTC/USD up 1.15%. That's not a split, that's arithmetic. The yen isn't rising on intervention fears; it fell to a 40-year low this week despite decades of BOJ dollar sales that never worked. Tokyo wants the ¥277 trillion GPIF fund to buy domestic assets, which would weaken the yen further, not strengthen it.