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Crypto
Bitcoin stays near $77,000, shaken by weak bonds and Asian stocks
Bitcoin’s on-chain demand indicator has turned negative again after rebounding in August. Cointelegraph reported that bitcoin briefly fell to around $76,400 on Sept. 1 before recovering part of the $77,000 level. The drop followed $236 million of outflows from spot bitcoin ETFs. Asian stock markets fell, while the dollar-yen pair showed unusual moves that markets read as a potential central bank intervention signal.
Crypto
Arthur Hayes says dollar supply could rise as Japan defends yen; bitcoin, gold may benefit
BitMEX co-founder Arthur Hayes said U.S. Federal Reserve dollar liquidity provision could expand as Japan seeks to push up the yen. He outlined a scenario using the Fed’s FIMA repo facility, in which Japan posts U.S. Treasuries as collateral to borrow dollars, sells them for yen and then invests the yen in domestic assets. Hayes said this could expand the Fed’s balance sheet and channel liquidity into bitcoin, ether, gold and gold miners.
Crypto
Bitcoin threatens $58,000 level as dollar strength, selloff by buyers at highs adds pressure
Bitcoin is facing increased downside pressure as it slides toward $58,000 ahead of quarter-end. Cointelegraph reported the dollar rose to its highest level against the yen since 1986, adding strain to crypto markets, while on-chain data showed more stop-loss selling by buyers near this year’s highs. Traders pointed to rising leverage and large long positions entering the dip. Analysts also flagged increased exchange inflows from coins held 6 to 12 months after bitcoin fell below $70,000.
