Bitcoin traded around $66,300 on Wednesday, holding relatively steady as macro forces shifted. The Japanese yen weakened past 163 per US dollar for the first time since 1986, and semiconductor stocks rallied for a second day on continued AI enthusiasm.
Yen Breaks 163
The yen's slide past 163 per dollar marks its weakest level in 40 years. The move comes as the Bank of Japan maintains its ultra-loose monetary policy while the Federal Reserve keeps rates elevated. Currency traders are watching for any signs of intervention from Tokyo, though none has come so far.
Chip Stocks Keep Climbing
Semiconductor shares extended their rally for a second straight day, driven by fresh optimism around artificial intelligence. The sector has been a bright spot in equity markets this year, with major chipmakers reporting strong demand for AI-related hardware. The rally lifted broader tech indices and added to the risk-on mood.
Bitcoin Steady
Bitcoin's price held near $66,300, a level it has tested several times this week. The cryptocurrency has been rangebound, caught between a stronger dollar and the positive sentiment from equity markets. The yen's weakness adds another layer of uncertainty for traders watching global liquidity flows.
