Bitcoin Slides 1% as Goldman Picks Yen Over BTC Amid Tariff Fears

Quick Summary:

Goldman Sachs recommends the yen as a hedge against U.S.recession risks, citing its historical strength in risk-off environments.

Additionally, the yen's strength could prompt the unwinding of risk-on bullish trades financed by inexpensive yen-denominated loans, contributing to overall risk aversion in financial markets.

In other words, tariffs-led risk-off on Wall Street could spill over into the crypto market.

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Article Details

Author / Journalist: Omkar Godbole

Category: Crypto

Markets: United StatesCubaJapan

Topics: Recession Goldman Scahs Bitcoin Markets Yen

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-04-02 @ 07:26:33 (2 days ago)

News Timezone: GMT -5:00

News Source URL: coindesk.com

Language: English

Article Length: 407 words

Reading Time: 3 minutes read

Sentences: 34 lines

Sentence Length: 12 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © CoinDesk

News ID: 27533420

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