Three Bank of Japan officials publicly backed raising interest rates, sending the Japanese yen higher against the dollar. Bitcoin fell roughly 1.2% in 24 hours, sliding below $77,000 to approximately $76,665. The move reflects broader risk-off pressure as tighter monetary policy expectations ripple through global markets.
When the yen strengthens, Japanese investors who borrowed cheaply in yen to buy risk assets — including crypto — often unwind those trades, creating selling pressure across Bitcoin and other speculative holdings. This dynamic, known as the yen carry trade unwind, has historically hit Bitcoin harder than traditional equities. Crypto holders should recognize this isn't purely a Bitcoin story; it's a macro liquidity squeeze.
Next Bank of Japan policy meeting: June 17, 2025. U.S. Federal Reserve rate decision: May 7, 2025. Watch USD/JPY exchange rate daily as a leading indicator.
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