Ether, solana, dogecoin slide as yen hits 40-year low

Major cryptocurrencies slid as the Japanese yen fell to a 40-year low, boosting the U.S. dollar and pressuring risk assets like bitcoin. Bitcoin hovered around $59,500, below its 200-week moving average, while most altcoins posted steep weekly losses except solana and Hyperliquid's HYPE, which eked out gains. Onchain data showed muted demand and shrinking transaction fees, and the prospect of over $1 billion in potential bitcoin sales by Strategy is adding to caution in an already thin market.