Bitcoin maintained a steady price around $63,900 on Friday, following the Bank of Japan's decision to keep its benchmark interest rate at 1%. Despite Governor Kazuo Ueda's efforts to adopt a hawkish tone during his press briefing, the market response was muted.
As Ueda spoke, the yen lost its earlier gains, and the dollar-yen exchange rate returned to its original levels, as traders had already anticipated an interest rate hike in October.
Ueda noted that inflation is projected to rise above 2% later this fiscal year, driven by increased demand for artificial intelligence and a weaker yen, both of which are impacting the broader macroeconomic landscape for cryptocurrencies this month.
