Bitcoin Falls 1% as Goldman Sachs Recommends Yen as Hedge Against Risks

The Bitcoin-Japanese yen (BTC/JPY) pair faced resistance at a key trendline, dropping 1% on bitFlyer. Goldman Sachs cited the yen as the preferred hedge against rising U.S. tariff and recession risks.

BTC's price in USD also declined.
Asian equity indices and U.S. futures showed little movement ahead of President Trump's new tariffs.
Investment banks like JPMorgan and Goldman Sachs anticipate increased chances of a U.S. recession.
Goldman Sachs emphasized the yen as the best hedge against U.S. economic risks.
Kamakshya Trivedi from Goldman noted the yen's effectiveness during U.S. labor market weaknesses.
Historically, BTC has correlated with technology stocks; risk aversion may impact the crypto market.
The yen's strength could lead to unwinding of risk-on trades, affecting both stocks and BTC.
Goldman forecasts the yen to strengthen to low 140s against the USD.
The current USD/JPY exchange rate is 149.77, influenced by bond yield differentials.