The yen’s unexpected surge is quietly powering bitcoin and gold—yes, really. While a strong yen usually means “risk-off,” this time it’s weakening the dollar, which historically lifts crypto and eases market conditions. But don’t get too comfy: if the yen moves too fast or too sharply, it could trigger a cascade of unwind trades, sending risk assets like bitcoin tumbling. Add in the Bank of Japan’s possible rate hike and central bank interventions, and you’ve got a volatile setup where every move matters.
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