According to CoinMeta, Bitcoin traded at $63,600 on Monday, representing a rise of about 1.8% in the past 24 hours. Concerns about arbitrage trading have risen again due to the joint intervention by the United States and Japan to support the Japanese yen. Data from the Bank of Japan indicates that Tokyo may have spent as much as $36.6 billion, while the contribution from the United States has not yet been disclosed. The yen rebounded to 157.57 on Friday and remained around 157 on Monday. Due to arbitrage trading, investors borrow in Japan to invest in assets with higher returns, and the sudden rise in the yen may force these traders to close their positions and sell other assets to repay the loans. Bitget, the Chief Operating Officer of a wallet company, stated that this intervention should be seen more as a check on disorderly trading rather than the beginning of a yen recovery.