Japanese Borrowing Costs Soar to 28-Year High: Will Bitcoin Be Affected?

Japan's borrowing costs have reached a 28-year high, with the 10-year government bond yield touching 2.945% in September, its highest level since 1996.

The yen has slipped back toward 159 per dollar, undoing almost half of this month's rescue rally.

Bitcoin, however, has ignored these developments and climbed 22% in seven days, despite the warning signs.

Economists expect the Bank of Japan to lift its policy rate from 1% to 1.25% at its upcoming meeting on September 17-18.