The pair of Yen-Japanses Bitcoin (BTC/JPY) faced a setback in the resistance of the key tendency line on Wednesday, since Goldman Sachs (GS) cited the Yen Anti-risgo as the main coverage against the risks of the rate and recession of the United States.
The BTC/JPY trade in Bitflyer, based in Japan, fell 1% after not obtaining the trend extracted from the record reached on January 20, as shown by the data of the TradingView platform.
The price called BTC faced similar losses. Meanwhile, the Asian Variable Income Indices and the US Capital Futures. UU. Water continued before the new reciprocal rates of the “Liberation Day” of President Donald Trump on Wednesday that they could trigger a global commercial war.
Tariff uncertainty has stimulated several investment banks, including JPMorgan and Goldman Sachs, a pencil in a greater possibility of American recession or consecutive quarterly contractions in the growth rate.
Some cryptographic observers expect investors to treat Bitcoin (BTC) as an asset for paradise in case an economic fainting materialized by the rate. Goldman, however, sees the Japanese yen, a long -standing safe shelter, since the high coverage against the United States risks.
“The YEN offers investors the best currency coverage in case they increase the possibilities of increasing a recession of the United States,” Kamakshya Trivedi, head of world currency, interest rates and emerging market strategy in Goldman Sachs, said on Tuesday night, according to Bloomberg.
Trivedi added that Yen is also a “very good coverage” against the weakness of the United States labor and tends to do better when the real rates of the United States. [inflation-adjusted yields] And US actions fall together.
Although BTC is widely seen as a digital gold asset or shelter by cryptocus market participants, cryptocurrency has historically moved together with technological actions. In other words, the risk led by tariffs on Wall Street could spill into the cryptography market.
In addition, the strength of the YEN could cause the unwinding of risk operations financed by economic loans called in yen, contributing to general risk aversion in financial markets. The cryptographic market experienced this at the beginning of August last year when the transport of trade was unraveled, which led to decreases in both actions and BTC. During that period, Bitcoin collapsed from approximately $ 65K to $ 50K in a week.
Goldman hopes that the Japanese yen will reach 140 bass against the US dollar this year. The USD/JPY pair quoted at 149.77 at the time of publication. It is known that the exchange rate closely tracks the differential between the yields of the 10 -year -old American and Japanese bonds.
The latter recently fell to the lowest since August 2022, offering Yen-Shoin signals.
