Bitcoin remained below $60,000 as a surging U.S. dollar, driven by the Japanese yen falling to a 40-year low, kept pressure on risk assets. BTC hovered around $59,500, down 7% weekly, below its 200-week moving average. On-chain data from Glassnode showed muted demand with active addresses around 618,000 and daily transaction value near $4.2 billion, both in the middle of recent ranges, while total transaction fees continued to contract. Altcoins saw steep losses except Solana (+2.9% weekly) and Hyperliquid's HYPE. Adding to caution, Strategy announced it may sell over $1 billion in bitcoin under a new financial program, reversing its long-standing refusal to sell. The prospect of large sales hangs over an already thin market, leaving crypto pinned by a strong dollar and lack of fresh demand.

Key facts

• Bitcoin trades around $59,500, down 0.3% daily and 7% weekly.
• Yen falls to 40-year low, boosting dollar and pressuring crypto.
• On-chain demand muted: active addresses ~618K, fees contracting.
• Strategy may sell over $1B in bitcoin, reversing previous refusal.
• Solana and HYPE buck trend with weekly gains; altcoins mostly down.

KeyAudit data perspective