Bitcoin reclaims $80K as DXY falls amid suspected yen intervention

Bitcoin surged 5% during U.S. trading hours, climbing to around $81,000 and retaking the $80,000 level.

Dollar weakness fuels crypto rally

The move coincided with a drop in the USD/JPY pair to 155.4, after falling from 158.5 the day before. The decline pushed the U.S. Dollar Index (DXY) down to 99, a level that historically supports higher Bitcoin prices.

Related market activity

Shares of Michael Saylor’s MicroStrategy (MSTR) rose 8.6% on the day, contributing to the broader crypto‑related rally. The company’s perpetual preferred stock (STRC) remained below its $100 par value, trading near $97.80.

Analyst views on the yen intervention

Some analysts see the suspected Bank of Japan (BOJ) intervention to support the yen as a catalyst for a potential rate hike later in September, raising concerns about a carry‑trade unwind. Polymarket odds for a BOJ rate hold fell from 12% to 1%, with a 98% implied probability of a 25‑basis‑point increase at the September 18 meeting.

Others note that the intervention could improve global dollar liquidity via the Foreign and International Monetary Authorities (FIMA) repo facility, though no funds have been drawn from it yet.