Bitcoin falls below $60,000 as Japanese yen hits 40-year low against dollar

Bitcoin dropped over 1% to below $60,000 as the yen weakened past 162 per dollar, its lowest since 1986. A stronger dollar and Strategy's plan to sell over $1 billion in BTC added to selling pressure.

• Bitcoin traded below $60,000, holding under its 200-week simple moving average.
• The yen fell to 162.40 per dollar, its weakest since October 1986, boosting the dollar index to 101.32.
• Strategy authorized a $1.25 billion monetization program that may involve selling bitcoin.
• The yen has declined roughly 57% against the dollar since 2021 due to divergent U.S.-Japan interest rates.
• Analysts warn a disorderly unwinding of yen-funded carry trades could hit stocks, bonds and crypto.

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