Bitcoin overcomes 'yen carry trade' liquidation fears to recover to $60,000

Bitcoin, which fell to the $57,000 range (about 8.34 million yen), has recovered to $60,000 (about 8.78 million yen).
10:10 a.m. on the 20th, cryptocurrency market site CoinMarketCap
Bitcoin rose 3.90% from 24 hours ago to $60,599 (approximately 8.87 million yen).
Bitcoin fell to $58,000 (approximately 8.49 million yen) in the early hours of the same day.
Despite the US stock market rally, Bitcoin's decline was likely due to fears of yen carry trade liquidation.
On that day, the yen recorded 151 yen to the dollar on the New York foreign exchange market, a significant increase from 161 yen to the dollar three weeks earlier.
Despite these signs, U.S. stocks rose, but cryptocurrencies, which are classified as risk assets, reacted more sensitively than stocks.
However, Bitcoin also recovered from the decline and surpassed $60,000 (approximately 8.78 million yen) again. At the same time, the second-placed virtual currency, Ethereum, also increased by 1.7% from 24 hours earlier.
It rose 6% to trade at $2,661 (approximately JPY 390,000). Binance Coin and Solana, ranked 4th and 5th, respectively, rose 6.86% and 3.45% from 24 hours ago.