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Bitcoin held steady below $78,000 as August drew to a close, while the Japanese Yen broke past 160 against the US Dollar, as Federal Reserve rate hike expectations bolstered the greenback.
Bitcoin traded below $78,000 during Monday's Asian morning hours, down less than 1% in 24 hours but up about 1% for the week, according to CoinDesk data. Solana and Dogecoin led the declines, both falling about 3%. The Japanese yen breached the 160 mark against the dollar in Tokyo on Monday, with strategists suggesting intervention could be triggered around 161. This follows a broad strengthening of the dollar, which also suppressed the cryptocurrency market, driven by expectations of higher U.S. interest rates after Federal Reserve Chairman Warsh's speech at Jackson Hole.
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