“Having earlier breached $100 per ounce for the first time ever, silver has risen to $101, while gold sits just shy of $5,000 per ounce.”, — write: www.coindesk.com
Possibly behind the quick 2% move off of the morning’s lows was suspected intervention in the foreign exchange market by Japanese authorities. The Bank of Japan overnight left monetary policy unchanged, but was somewhat hawkish in its policy statement. That had the yen modestly stronger versus the US dollar — a move that quickly compounded just after the noon hour on the US east coast, with some traders saying the action had the hallmarks of FX intervention.
For all the talk about President Trump, Greenland, tariffs, precious metals, AI, and any number of other headline-making subjects, there is a sizable cohort of traders who believe the weakening yen exchange rate in recent months — and the implications for leveraged carry trades — is behind the struggles of bitcoin and the broader crypto market.
To the extent that that weakness is reversed, those same traders believe risky assets like crypto could benefit.
Crypto-related stocks gainingBitcoin miners, including those with increasing exposure to artificial intelligence infrastructure, reversed all their early declines into a strong rally. Iren (IREN), Hut 8 (HUT), TeraWulf (WULF) and CleanSpark (CLSK) were up 5%-10% despite starting the session in the red. Strategy (MSTR), the largest corporate bitcoin holder, bounced 5% from Friday’s low. Down sharply early on Friday, Coinbase (COIN) narrowed its loss to just 1%.
US stocks have also reversed an early decline, with the Nasdaq now higher by 0.6%.
Precious metals continue to soar, with silver now higher by more than 5% to $101.44 per ounce and gold ahead 1.5% to just a few dollars shy of $5,000. Platinum and palladium are up more than 6% each.
KuCoin captured a record share of centralized exchange volume in 2025, with more than $1.25tn traded as its volumes grew faster than the broader crypto market.
- KuCoin recorded over $1.25 trillion in total trading volume in 2025equivalent to an average of roughly $114 billion per monthmarking its strongest year on record.
- This performance translated into an all-time high share of centralized exchange volumeas KuCoin’s activity expanded faster than aggregate CEX volumeswhich slowed during periods of lower market volatility.
- Spot and derivatives volumes were evenly spliteach exceeding $500 billion for the year, signaling broad-based usage rather than reliance on a single product line.
- Altcoins accounted for the majority of trading activityreinforcing KuCoin’s role as a primary liquidity venue beyond BTC and ETH at a time when majors saw more muted turnover.
- Even as overall crypto volumes softened mid-year, KuCoin maintained elevated baseline activityindicating structurally higher user engagement rather than short-lived volume spikes.
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Some investors have revived concerns that quantum computing could threaten bitcoin, but analysts and developers say recent price weakness reflects market structure.
- Bitcoin’s recent price stagnation has sparked a renewed debate over quantum-computing risks, with investor Nic Carter arguing that quantum fears are already shaping market behavior.
- On-chain analysts and prominent investors counter that the slowdown is better explained by large holders taking profits and increased supply hitting the market around the $100,000 level.
- Most bitcoin developers still view quantum attacks as a distant, manageable threat, noting that proposed upgrades like BIP-360 provide a path to quantum-resistant security and are unlikely to explain short-term price moves.
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