Bitcoin Rebounds to $77,000 as Yen Weakens Following BOJ Rate Hike

The Bank of Japan raised its policy rate to 1.25% on September 18, a 31-year high. Contrary to expectations, the yen weakened as the market interpreted the decision as less hawkish than anticipated. Bitcoin rebounded to $77,392, as the lack of a sharp yen appreciation eased concerns over the unwinding of yen carry trades.