CoinDesk
Bitcoin traded just below $78,000 in Asian morning hours Monday, down under 1% over 24 hours but up about 1% on the week. Solana and Dogecoin led decliners at roughly 3% each, with Hyperliquid and XRP close behind. The weekly picture split sharply: Solana was up about 8% while Dogecoin was down roughly 10%; Ether, BNB, Zcash and Tron stayed within 2% of flat.
Why it matters
The yen breached 160 per dollar in Tokyo, approaching intervention levels that strategists place as close as 161 and then in the 162 to 163 zone. The currency has already unwound more than half the gains from a record July operation, when the U.S. joined Japan for the first coordinated yen buying since 1998.
Friday's broad dollar advance followed expectations for higher U.S. rates after Warsh spoke at Jackson Hole. Bond investors are now pricing in a Fed positioned to hike, and that repricing pulled institutional money out of Bitcoin ETFs across May and June.
Market impact
Monday is the final trading session of August. The month's closing ETF total will show whether the eight-day Bitcoin ETF inflow run survived the shift in rate expectations and the stronger dollar.
Frequently asked questions
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How did Bitcoin perform over 24 hours and across the week?
Bitcoin was down under 1% over 24 hours but remained up about 1% on the week.
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Which tokens led the declines, and how did their weekly returns differ?
Solana and Dogecoin fell roughly 3% each, while Hyperliquid and XRP were close behind. Solana was up about 8% on the week, while Dogecoin was down roughly 10%.
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Where do strategists place the next yen intervention triggers?
Strategists see intervention triggers starting as close as 161, followed by the 162 to 163 zone.
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Why did the dollar strengthen after Jackson Hole?
Friday's broad dollar advance followed expectations for higher U.S. rates after Warsh spoke at Jackson Hole. Bond investors are now pricing in a Fed positioned to hike.
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What will August's final Bitcoin ETF total reveal?
The month's closing ETF total will show whether the eight-day Bitcoin ETF inflow run survived the shift in rate expectations and the stronger dollar.
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