**Bitcoin Slips as Goldman Bets on Yen—Is BTC Losing Its Safe-Haven Status?**
Goldman Sachs has identified the Japanese yen as the strongest hedge against rising U.S. recession risks, emphasizing its historical reliability in uncertain market conditions. On Wednesday, Bitcoin struggled against the yen, dropping 1% after failing to break key resistance levels, while broader financial markets braced for potential economic fallout from President Donald Trump’s new tariffs.
Despite some crypto analysts viewing Bitcoin as a haven asset, Goldman maintains that the yen is the superior safeguard against economic downturns, citing its resilience when U.S. equities and real interest rates decline. The strengthening yen could also trigger risk-off sentiment, similar to last year’s unwinding of yen-funded trades, which led to sharp declines in both stock markets and Bitcoin. Goldman forecasts further yen appreciation, expecting the USD/JPY exchange rate to fall into the low 140s, reinforcing its status as a key safe-haven currency.