CoinDesk

Bitcoin Steady as Japan Holds Rates at 1%, Keeping Yen Carry Trade Alive

July 31, 202604:46 AM
Bitcoin Steady as Japan Holds Rates at 1%, Keeping Yen Carry Trade Alive

The Bank of Japan kept its benchmark interest rate unchanged at 1%, with Governor Ueda's hawkish signals already priced into markets by investors. Bitcoin held steady near $64,000, demonstrating resilience as the cryptocurrency market digested the central bank's decision. The BoJ's decision to maintain rates reinforces the 'yen carry trade' strategy, where investors borrow low-cost yen to invest in higher-yielding assets.

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