Bitcoin and gold moved higher as the yen strengthened sharply against the dollar, helping push the U.S. dollar lower across global markets. BTC was quoted at $78,535.67, with the move challenging the traditional view that yen strength signals broad risk aversion. The key driver was the yen’s impact on the dollar index, as a weaker dollar tends to support dollar-denominated assets such as Bitcoin and ease overall financial conditions. Markets are also watching the risk of a reversal if the yen rises too quickly in a disorderly move. Over the past decade, traders have widely borrowed low-cost yen to fund positions in equities, bonds, and cryptocurrencies. A sharp surge in the yen could force a large-scale unwind of those carry trades, prompting investors to cut risk positions and increasing pressure on global risk assets.