Bitcoin Recovers Above $77,500 Despite Weekly Losses as Yen Strengthens

·1 views

Bitcoin climbed back above $77,500 on the day, with most major cryptocurrencies posting gains. However, the asset remains in negative territory on a weekly basis. The recovery comes amid broader global market movements, including a rally in the Japanese yen. Meanwhile, global investors are holding their lowest levels of currency hedging on U.S. assets in roughly ten years, signaling reduced confidence in dollar-denominated holdings.

Read the full story at CoinDesk

This is an AI-generated summary. ShortSingh links to the original source for the complete article.

Discussion (0)

Kraken Partners With SoFi to Bridge Crypto and Traditional Banking

Cryptocurrency exchange Kraken and digital personal finance company SoFi have announced a new partnership linking their respective platforms. As part of the deal, Kraken will join SoFi's settlement network, deepening ties between the two firms. SoFi's stablecoin, SoFiUSD, will also be listed on the Kraken platform as part of the arrangement. The collaboration reflects a broader trend of crypto exchanges and traditional financial institutions moving into each other's territory.

0 comments Read more at CoinDesk

Crypto & Web3CoinDesk ·

FX has stopped reading bond yields the old way. Bitcoin should too.

Your day-ahead look for Sept. 3, 2026

0 comments Read more at CoinDesk

Crypto & Web3CoinDesk ·

Yen Surge Weakens US Dollar, Giving Bitcoin and Gold a Boost

The Japanese yen has been rising sharply, putting broad downward pressure on the US dollar. This weakness is reflected in a declining Dollar Index, a key measure of the greenback's strength against major currencies. Bitcoin and gold, both often seen as alternatives to the dollar, are benefiting from this shift. Analysts note the positive impact on these assets, though the gains may be temporary depending on how currency markets evolve.

0 comments Read more at CoinDesk

Crypto & Web3CoinDesk ·

Bitcoin Climbs Toward $78,000 as Dollar Weakness Lifts Crypto Markets

Bitcoin gained 0.76% from midnight, edging closer to the $78,000 mark during the latest trading session. A softer US dollar provided broad support across multiple asset classes, lifting equities, metals, and cryptocurrencies simultaneously. Altcoins ARB (Arbitrum) and PONS also extended their gains, each rising for a third consecutive session. The rally in ARB and PONS was notably linked to momentum around the Robinhood Chain. The wider market uptick reflects growing investor appetite as the dollar loses ground.

0 comments Read more at CoinDesk