Bitcoin Holds Near $59,500 as Yen Hits 40-Year Low and Strategy Eyes $1 Billion Sales
Updated
Updated · CoinDesk · Jun 30
Bitcoin Holds Near $59,500 as Yen Hits 40-Year Low and Strategy Eyes $1 Billion Sales
3 articles · Updated · CoinDesk · Jun 30
Summary
Bitcoin traded around $59,514 on Tuesday, down 7% for the week and still below its 200-week moving average as a broader crypto selloff deepened.
The yen slid past 162 per dollar—its weakest since 1986—lifting the U.S. dollar and pressuring risk assets by making dollar-priced crypto costlier for overseas buyers.
Ether fell 8.2% over seven days to about $1,587, XRP lost 7.1%, dogecoin dropped 11.9% and BNB shed 6.5%, while solana rose 2.9% on the week and HYPE turned roughly flat.
Glassnode data showed demand stayed soft, with about 618,000 active addresses, roughly $4.2 billion in transfer value and shrinking transaction fees signaling little pickup in network activity.
Strategy's new plan to potentially sell more than $1 billion of bitcoin adds another overhang to a thin market already weakened by a strong dollar and fragile sentiment.