Nevertheless,
Yen flies away, bitcoin crosses:
Considering better yields, market players push the Japanese currency from 0.60% to 146.49 yen for a dollar around 11:30 am. For example, For its part, the cryptocurrency reached a peak at 124,514.59 dollars. Furthermore,
Bitcoin hit a new record Thursday. Meanwhile, pushed by institutional purchases, favorable legislation in the United States and the prospect of resumption of American rate drops, the Yen, unlike speculation on an increase in Japanese rates.
The most capitalized of cryptocurrencies recorded a summit at 124,514.5 dollars, exceeding its last record, reached in mid-July, at 123,205.12 dollars, before reflecting slightly to 121,533.25 dollars around 12:10 pm.
Its flight “is strongly supported by the growth of institutional investments”. such as Bitcoin ETF – of investment products which follow the performance of this cryptoactive -, explains to AFP Rachael Lucas, of BTC Markets.
Cryptocurrencies are also used by companies yen flies away, bitcoin crosses to fuel their cash. diversify their investments, a trend embodied by the company Strategy which holds around 3% of existing bitcoins.
For months. Bitcoin “has been gaining ground thanks to a wave of pro-Cryptomonnai laws” in the United States, “as well as projects managed by the Trump family” which feeds a climate favorable to the sector, adds the analyst.
Americans have recently been authorized to integrate cryptocurrencies and other “alternative investments” in their retirement savings accounts.
Last accelerator which “propelled Bitcoin”. reported by Victoria Scholar, of Investor Investor: “The expectations of a decrease in rates of the Federal Reserve (Fed) in September” – Especially since the Trump administration intensifies the pressure on the institution to lower them.
Turning away from the dollar. American assets deemed less profitable, investors do not hesitate to turn to risky assets, such as cryptocurrencies.
The Ether, the second cryptocurrency by capitalization, exceeded Thursday 4,790 dollars, yen flies away, bitcoin crosses a higher since November 2021.
In addition. the US Treasury Secretary Scott Bessent said on Bloombergtv on Wednesday that the Banque du Japan (BOJ) was “late” in his fight against inflation, adding that he had mentioned the question with the governor of the institution, Kazuo Ueda.
“They will therefore increase rates and they have to control their inflation problem,” he added.
These words “gave the impression that the Trump administration was trying to increase pressure on the Boj so that it tightens its monetary policy more. which would promote a stronger yen”, summarizes Lee Hardman, of MUFG.
Considering better yields, around 11:30 am, market players pushed the Japanese currency from 0.60% to 146.49 yen for a dollar.
After stable inflation on the American consumer side. the trades will keep an eye on the PPI production price index in July published later in the session.
Yen flies away, bitcoin crosses
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