Bitcoin Dips Below $60K as Yen Hits Four-Decade Low Versus Dollar

Bitcoin BTC$59,454.04 fell more than 1% on Tuesday after the Japanese yen tumbled to a four-decade low against the U.S. dollar, sparking volatility across currency markets.

The largest cryptocurrency by market capitalization hovered beneath the $60,000 mark, remaining below the key 200-week simple moving average.

On Monday, Strategy—the largest publicly traded holder of Bitcoin—approved buybacks of up to $1 billion each for its preferred and Class A common shares and unveiled a $1.25 billion “monetization program” funded by Bitcoin sales. The move could see the company offload over $1 billion worth of BTC into a fragile market, marking a stark departure from founder Michael Saylor’s long-standing “never sell your bitcoin” philosophy.

Analysts suggest the shift may provide only temporary relief. Strategy’s preferred stock, STRC—a yield-oriented instrument—has plummeted in recent weeks, eroding a primary financing avenue for the firm’s Bitcoin acquisitions.

“The can has been kicked down the road for a year or two,” said Jeff Dorman, Chief Investment Officer at Arca, in a post on X.

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