Bitcoin Steadies Near $78,000 as Strong Dollar Weighs on Crypto Markets

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Bitcoin is trading just below $78,000 as the month of August draws to a close. The US dollar has strengthened significantly, pushing the Japanese yen past the 160 mark, a level historically associated with government intervention. Rising bets on interest rate hikes have been a key driver behind the dollar's recent gains. The same dollar strength that is pressuring the yen is also acting as a ceiling on cryptocurrency prices.

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