Japan's central bank cools rate hike expectations, removing a key risk for bitcoin's rally

What Happened

Bank of Japan Governor Kazuo Ueda signaled a cautious stance on interest rate hikes at the April 28 policy meeting, citing uncertainty over Iran conflict impacts. This decision supports bitcoin's rise past $74,000. A dovish BOJ keeps yen weak, maintaining cheap carry trade funding for leveraged cryptocurrency positions. Japan's bond auction showed strong institutional demand, confirming the hiking pause. Previous rate hikes triggered sharp crypto sell-offs; this pause removes that risk.

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