Live updates: Bitcoin steady as Japan holds rates at 1%, keeping the yen carry trade alive

23 minutes ago · 7:46 AMShaurya Malwa

Bitcoin steadies near $64,000 as the BOJ holds and shrugs off a hawkish tilt

Bitcoin traded near $63,900 on Friday, roughly flat, as the Bank of Japan left its benchmark rate at 1% and Governor Kazuo Ueda's attempt to sound hawkish landed softly with markets.

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 and pointed to AI demand and the weak yen as forces pushing prices higher, the same two threads that have shaped crypto's macro backdrop all 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 was quiet. Ether held near $1,885, while 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.