The US may intervene to support the Japanese yen: What does this mean for Bitcoin in 2026?

A historic event is brewing in global financial markets. A price check by the New York Federal Reserve indicates that the US authorities are preparing to sell dollars and buy Japanese yen. This could be the first joint currency intervention by the two countries this century, radically changing the liquidity landscape in 2026.

Historical Precedent and Global Consequences

Coordinated actions by central banks are the "heavy artillery" of the financial world. History confirms that Japan's solitary attempts to stabilize the yen (as in 2022 and 2024) have had only a temporary effect. However, when the US intervenes, the consequences become long-term.

Recall the Plaza Accord of 1985 or the joint interventions during the Asian crisis of 1998. In such scenarios, the Fed effectively creates a supply of new dollars, sells them, and buys back yen.

The main consequences of such actions:

1. Weakening of the dollar index (DXY): The increased supply of the US dollar on the market inevitably leads to a decline in its value.
2. Growing global liquidity: Markets are flooded with capital, which begins to seek safe havens or high-yield instruments.
3. Rising commodity and asset prices: Gold, oil, and non-US stocks traditionally rise with dollar devaluation.

Direct impact on the crypto market: risks and opportunities

Bitcoin (BTC) is in a unique position. It exhibits a strong inverse correlation with the dollar, but is also heavily tied to Japanese liquidity through carry trade mechanisms.

Short-Term Threat: The Carry Trade Trap

Many large investors have been borrowing cheaply in yen for years to buy shares of tech giants and cryptocurrencies. A sharp strengthening of the yen makes these loans more expensive. To pay off their debts, traders are forced to sell assets. We saw this in August 2024, when Bitcoin collapsed from $64,000 to $49,000 in a week. In 2026, the scale of such positions remains significant, which could trigger temporary volatility.

Long-Term Potential: Digital Gold on the Rise

Despite the risk of "shaking out" weak hands, a weakening dollar is the main catalyst for BTC growth. As of early 2026, Bitcoin remains one of the few assets that has not yet been completely overvalued given the new wave of global fiat currency devaluation. If the Fed intervenes, capital will flood into deflationary assets.

2026 as the Point of No Return

If the Fed and the Bank of Japan sign a new currency agreement, it will send a powerful signal to institutional investors. The market will shift from hoarding dollars to seeking instruments protected from inflation and central bank manipulation. In such an environment, the crypto market has historically been the main beneficiary.

Impact of the news on the RAO Cash token: Forecast and conclusions

How will this affect RAO Cash?
The Fed's intervention and the increase in global liquidity directly impact the decentralized finance ecosystem and limited-issue assets like RAO Cash.

- Liquidity influx: The declining dollar is forcing investors to exit stablecoins in favor of promising altcoins. RAO Cash could become an attractive target for capital redistribution due to its architecture.
- Defense Mechanism: With the world's two largest economies (the US and Japan) beginning to "play" with exchange rates, trust in centralized systems is declining. This strengthens the narrative of RAO Cash as an independent financial instrument.
- Forecast: Short-term turbulence in Bitcoin due to the yen could trigger a market-wide drawdown, which would be an ideal entry point for RAO Cash holders. In the medium term (second half of 2026), a weakening dollar could push the token to new local highs amid a general crypto market rally.