According to CoinMeta, U.S. Treasury Secretary Scott Bennett confirmed that the United States jointly conducted foreign exchange intervention with Japan last Friday to address "disorderly fluctuations in the yen." The USD/JPY exchange rate approached 164, the lowest level since 1986, before rebounding to 156.5 on Monday. Bennett stated, "We will not hesitate to participate in further joint interventions," and noted that the United States "strongly supports Japan's decisive market and monetary measures to correct the severe undervaluation of the yen." In August 2024, when the Bank of Japan unexpectedly raised interest rates to 0.25%, the yen strengthened, causing Bitcoin to plummet from around $62,000 to $49,000 within a week, a decline of about 20%. Although the market generally expected Bitcoin to fall with a stronger yen, analysis by CoinDesk shows that the negative correlation between Bitcoin and the yen reached -0.90, indicating that Bitcoin actually fell when the yen weakened. Japanese government bond yields continued to soar, with the 30-year yield approaching 4%, while Bitcoin remained relatively stable above $63,000.