The US dollar surged to its highest level against the Japanese yen since 1986, putting fresh downside pressure on Bitcoin. BTC briefly touched $58,000 as on-chain data revealed capitulation by 2025 top buyers.
The US dollar hit its highest level against the Japanese yen in nearly four decades on June 30, adding to downward pressure on Bitcoin. BTC fell to near $58,000 during Asian trading hours, marking a fresh low for the recent downturn.
On-chain analysis indicates that buyers who entered at Bitcoin's 2025 all-time high are now capitulating, selling at a loss. The strengthening dollar continues to weigh on risk assets, with traders monitoring further macroeconomic triggers.
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