Bitcoin falls short of $80,000 as yen strength increases

Bitcoin stayed below $80,000 on Wednesday as markets reacted to rising geopolitical tension, higher oil prices, and renewed strength in the Japanese yen. The cryptocurrency moved lower alongside US stocks after fresh escalation involving Iran helped push Brent crude above $100 a barrel and WTI above $96. The weaker risk sentiment added pressure to Bitcoin, which briefly tried to retest the $80,000 level before slipping back. Attention also shifted to the yen, which traded around 153 per dollar and reached its strongest level since February. Market participants were watching the risk of a yen carrytrade unwind, while US Treasury Secretary Scott Bessent signaled that further currency intervention could be possible. Analysts said continued yen strength could affect liquidity conditions across broader markets, including crypto.