BTC price gains as yen surprises after Japan raises rates: Crypto Daybook Americas
By Francisco Rodrigues (All times ET unless indicated otherwise)
Bitcoin rose above $88,000 even after the Bank of Japan increased interest rates to the highest in nearly 30 years, a move that would have been expected to strengthen the yen and make the carry trade less attractive.
Instead, the currency weakened on concerns the higher rates would endanger the spending plans of Prime Minister Sanae Takaichi, who took office in October. The yield on the 10-year Japanese government bond touched 2% for the first time since 2006.
Other cryptocurrencies also advanced. Ether added 3.4% in the last 24 hours, though major altcoins including BNB and SOL rose less than 1%. The broader CoinDesk 20 (CD20) index advanced…
