European trading time, bitcoin above $60,000, and the Japanese yen is getting better. The core change in market transactions is that investors reduced their expectations of continued interest rate hikes in the Federal Reserve in July, thus undermining the dollar.

The Fed expects to cool down.

According to the report, Federal Reserve Chairman Kevin Warsh said that inflation risks had eased. As a result of this, the market recalibrated its judgement on the path of the subsequent interest rate, with its already tight expectations set back.

This change underpinned the strength of bitcoin in European times. When the United States dollar is weak, risk assets are usually more readily available for purchase, and the BTC is therefore located above key integers.

Japanese yen bounced from low

On the foreign exchange market, the Japanese yen rose to 161.20 against the United States dollar, before falling to 162.84, a low of 40 years. The rapid rebound in European time triggered speculation that Japanese authorities might have intervened in the market.

Although the Central Bank of Japan has recently raised interest rates to 1 per cent, this has not reversed the continuous weakness of the yen. One reason is that the United States-Japan spread is still clear, and the interest rate level of 3.5 per cent in the United States continues to increase the attractiveness of dollar assets.

  • Japanese yen to US$ 161.20
  • It fell to 162.84.
  • US interest rate is 3.5%

It's better to synchronize bitcoin with yen.

From the perspective of the encryption market, it was reported that bitcoin and Japanese yen had recently become more relevant to the United States dollar. The two were strong over the same period of time, reflecting the re-pricing of the market around the fall in the dollar and expected changes in interest rates.

This means that the current movement of bitcoin is influenced not only by the encoded market itself, but also increasingly by macroeconomic interest rates and exchange rate fluctuations. The focus of short-term funding remains on the expectations of the Federal Reserve policy and the market movement in Japan.