US hints at more yen intervention: Five things to know in Bitcoin this week

Bitcoin (BTC) starts the first full week of August circling $63,000 as traders weigh the impact of the ongoing Coldcard wallet hack.Key points:US Treasury Secretary Scott Bessent leverages a Federal Reserve repo facility for a joint intervention as the Japanese briefly recovers from forty-year lows against the dollarOil prices fall sharply as president Donald Trump gives hope of a deal with Iran.Bitcoin rounds out July 7.4% higher, but warnings of a red August stay in place.Bessent eyes further yen interventionsConcerns over US Treasury markets were behind the US decision to intervene in the Japanese yen last week. Washington engaged in a rare operation to support the yen after USD/ JPY had reached almost 164 last week, per data from TradingView.USD/JPY one-day chart. Source: Cointelegraph/TradingView“It was the first coordinated US–Japan foreign-exchange intervention since 2011 and the first joint operation specifically supporting the yen since 1998,” crypto trading company QCP Capital noted in analysis released on Monday. “The distinction matters. The New York Fed acted as the Treasury’s fiscal agent rather than as an independent monetary-policy decision by the Federal Reserve. T...