According to CoinDesk, the Bank of Japan's recent interest-rate increase has led to the Japanese yen reaching its strongest level against the U.S. dollar since March. This development has also impacted Bitcoin, which has been holding on to a weekly loss amid the yen's rise and potential global financial tightening.
The Bank of Japan (BoJ) made a significant hawkish move by raising its unsecured overnight call rate target to around 0.25% from the previous 0%-0.1% range. Additionally, the central bank announced plans to reduce its liquidity-boosting bond purchases to approximately 3 trillion yen ($20 billion) a month by the first quarter of 2026. As of March, the BoJ was purchasing about 6 trillion yen of bonds monthly.
Bitcoin remained steady near $66,000, nursing a weekly loss of 2% due to expectations of renewed rate cuts from the U.S. Federal Reserve. This anticipation increased demand for the
