
Markets2m read
Bitcoin's Divergent Performance: Strong in USD, Lagging in JPY Amid Yen's Ascent
Bitcoin and other major cryptocurrencies are significantly underperforming in Japanese Yen (JPY) terms compared to their US Dollar (USD) pairs.

Bitcoin and other major cryptocurrencies are significantly underperforming in Japanese Yen (JPY) terms compared to their US Dollar (USD) pairs.

A trader on Ostium has maintained a **$1.14 million** long position in **EUR/USD perpetual futures** for **400 days**, applying a Bitcoin-style HODLing strategy to forex.

Hedge funds have placed nearly 138,000 bearish contracts against the Japanese Yen, marking their most negative stance since 2007 as of June 30.

Stablecoin issuer Circle and Nomura are collaborating to integrate cross-border foreign exchange settlements into Japan's $440 billion daily forex market by next year.