News reports about his tax-hike plan dented markets' risk appetite only briefly on Friday but analysts think there could be a bigger reaction if the plan becomes more concrete.
Bitcoin slumped 4.2% to below $50,000, and briefly touched $48,338. It has fallen every day but two since reaching a record high of $64,895.22 on April 14.
"We've confirmed that demand for Treasuries is healthy, which means there is no upward pressure on yields," said Junichi Ishikawa, senior foreign exchange strategist at IG Securities in Tokyo.