Bitcoin Stabilizes Near $64K as Bank of Japan Hikes Rates
Bitcoin prices steadied near $64K following the Bank of Japan's decision to keep its benchmark interest rate at 1%. The move, while hawkish, had little impact on markets as they had already priced in a likely rate hike in October.
The yen weakened but returned to previous levels, supporting risk assets like Bitcoin through carry trades. This stability contributed to the cryptocurrency's resilience despite rising inflation concerns and AI-driven demand.
Other cryptocurrencies, such as Ether, remained steady, while BNB saw notable gains this week. The institutional presence in crypto markets continues to grow, with Wintermute Research reporting a record 72% of spot over-the-counter (OTC) crypto trading in the first half of 2026 is now dominated by institutions.