Bitcoin held near $63,900 on Friday after the Bank of Japan kept its benchmark interest rate at 1% and Governor Kazuo Ueda's hawkish tone failed to shift markets. The yen carry trade that has fed crypto and other risk assets stayed intact, while Ether and BNB also held their ground.
The largest cryptocurrency traded near $63,900 on Friday, roughly flat, as the Bank of Japan left its benchmark rate at 1% and Ueda's attempt to sound hawkish landed softly with markets.
Meanwhile, the yen gave back its move during his press conference, and the dollar-yen pair returned to where it started, since traders had already priced a high chance of an October hike.
Ueda said inflation should rise above 2% later this fiscal year, pointing to AI demand and the weak yen as forces pushing prices higher — the same two threads that have shaped crypto's macro backdrop this month. A soft yen has fed the carry trade that sends money into risk assets, and the AI capital cycle is the trade bitcoin has tracked closely.
The broader market stayed quiet. Ether held near $1,885. BNB extended its run as the standout large token, up 3.5% on the day and 4.4% on the week to around $591, per CoinDesk data.
Source: CoinDesk
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