US hints at more yen intervention: Five things to know in Bitcoin this week
Bitcoin started August near $63,000 as markets balanced macro risks and crypto-specific concerns. Traders are watching a Coldcard hardware wallet exploit that has drained nearly $90 million in BTC, though exchange data has not shown panic selling; long-term holders still appear to be accumulating. Macro drivers may matter more this week. The main event is Thursday’s US nonfarm payrolls report, which could shape Federal Reserve policy expectations and Bitcoin sentiment. A weaker labor reading would likely support BTC, as it did after June’s downside surprise. Broader risk assets are also reacting to geopolitics and policy. The US and Japan carried out rare coordinated yen intervention, with Treasury signaling more action may follow if needed. Meanwhile, oil fell sharply after Trump suggested a possible Iran deal and delayed further strikes. Seasonality also looks unfavorable: analysts expect August and the coming months to be a tougher period for US stocks, and Bitcoin is entering the month with the 50-month EMA near $65,800 acting as resistance.
