Japan Rates Hit Three-Decade High, But No ‘Meaningful Disruption’ to Crypto Market

In brief

• The Bank of Japan raised its benchmark rate to around 1%, its highest in over three decades.
• Bitcoin and the broader crypto market held steady, even as traders appeared to have braced for a selloff.
• A U.S.-Iran ceasefire had rallied crypto days earlier, softening the hike’s blow.