Crypto Market Slumps as Yen Warnings Hit Risk Assets

1 hour ago 1

Key Takeaways

Bitcoin fell 3.5% over 24 hours as losses spread across most major cryptocurrencies.
A Reuters report on possible U.S. intervention in the yen market triggered a sudden reversal in U.S. equities.
Apple fell about 9.3% in regular trading despite reporting record quarterly revenue, as chip and memory constraints weighed on its outlook.
U.S. stocks recovered much of the initial decline, while Bitcoin remained below its previous support area.

The headline revived concern over yen-funded carry trades and triggered a sudden reversal in U.S. equities. Apple added pressure during the same session, falling about 9% in regular trading even after reporting record fiscal third-quarter revenue.

The currency channel was outlined in our previous analysis of how Japanese policy can reach Bitcoin through global funding markets. This time, the concern came from possible currency intervention rather than Bank of Japan rate policy