After the yen fell to a low of nearly 40 years, the dollar continued to strengthen, the risk asset was under pressure and the encryption market continued to fall on Tuesday. Bitcoin was kept below $60,000, no significant improvement in chain activity, and the market digested news that Strategy might sell some bitcoin.

Bitcoin is still under $60,000.

The CoinDesk data show that bitcoin reported about US$ 59,514, fell by 0.3 per cent 24 hours and nearly 7 per cent a day. Prices are still below the 200-week average, indicating that the market is not out of the recent vulnerable zone.

Most mainstream tokens go down at the same time. It fell nearly 7 days to about US$ 1,587, XRP fell between US$ 7.1 and US$ 1.04, and the dog currency fell between 11.9 and US$ 0.072, leading in the mainstream currency. BNB fell by 6.5% almost 7 days.

By contrast, Solana went a little better, rising 3 per cent in the daytime and up 2.9 per cent to $74 in the near seven days. Hyperliquid's hype rebounded 7% that day, and the weekly performance was roughly equal.

Yen's weak push up the dollar

Short-line pressures come mainly from exchange rate markets. The Japanese yen fell 162 to the dollar, touching the lowest level since 1986, and boosting the dollar as a whole. The appreciation of the United States dollar usually increases the cost of buying dollar-denominated assets from overseas and weakens the attractiveness of risky assets.

Market concerns have thus shifted from single currency fluctuations to a broader macro environment. Currently, there is no independent Lido for encrypted assets, and price performance is more influenced by the strength of the United States dollar and global risk preferences.

The chain still needs to rise.

On Monday, Glassnode reported that chain demand remained weak during the current round. The number of active addresses is approximately 61.88 million, still in the middle of the near-term, without significant magnification.

The value of the chain transfer was approximately $4.2 billion, only slightly higher than the low level of $3.6 billion. At the same time, transaction fees continue to contract, suggesting that the intensity of network use and the level of financial activity have not recovered significantly with price declines.

This means that the market currently lacks new buy-in support. Lower prices did not lead to significant bottom-up demand and overall liquidity remained thin.

Strategy plans to increase caution.

Another disincentive comes from Strategy. As the largest business in the world, the company indicated on Monday that it could sell more than $1 billion worth of bitcoin through a new plan to improve its financial position.

This statement contrasts with the long-standing insistence of the founder, Michael Saylor, on “no money”, and allows the market to begin to reassess potential sales pressure. In an environment where incremental funding is lacking, large sellers are expected to be more likely to magnify caution.

Next, the market will continue to be concerned about the slowdown in the dollar and whether Japan will intervene in the further decline of the yen. If exchange rate fluctuations persist, encrypted assets may remain under pressure in the short term.