Major cryptocurrencies, including BTC and ETH, experienced volatile trading as the dollar strengthened following new U.S. tariffs
Mena, crypto research strategist at 21Shares, said in an email.
Mena added that the focus is now on Friday's U.S. nonfarm payrolls report.
Yen slides ahead of payrolls
The Japanese yen depreciated past 150.50 per Dollar in Tokyo Morning, hitting the lowest level in four months.
The decline follows Thursday's comments by BOJ Governor Kazuo Ueda, which indicated that the Japanese central bank is cautious about implementing an additional rate at an early date.
Both the yen and BTC are likely to experience increased volatility following the release of Friday's payrolls figures.
"The data likely determine whether Powell has the green light to act - or whether the Fed stays sidelined," Mena said. "For crypto, looser financial conditions would be a major tailwind. Bitcoin has historically tracked global liquidity with a short lag. If labor data confirms a cooling economy and the Fed pivots, BTC could continue its grind higher, with $150K and $200K still in play this cycle."