Bank of Japan Raises Rates, Ending Negative Rate Era; Bitcoin Falls Below $63K

• The Bank of Japan (BOJ) raised its benchmark interest rate to 0-0.1%, ending 8 years of negative rates • Bitcoin extended losses following the rate hike, falling below $63,000 • The BOJ policy is now data-dependent rather than on autopilot, which could cause more volatility • Further BOJ tightening could negatively impact risk assets like crypto • The end of cheap yen carry trades that feed into risk assets could result from less accommodative policy