CoinDesk analyzed that Japan's benchmark interest rate hike could put a burden on Bitcoin's rebound path. The media explained, "For many years, Japan has played a crucial role in keeping global interest rates low through ultra-low interest rates and large-scale quantitative easing. As the yen carry trade, which involves borrowing yen at low interest rates and investing in high-interest assets overseas, became active, the capital borrowing costs of developed countries also indirectly decreased. However, with the recent rise in Japanese government bond yields, the likelihood of a burden on the Bitcoin market has increased. This is because as bond yields rise, the relative investment attractiveness of Bitcoin, which does not pay interest, decreases. Recently, a positive atmosphere was formed in the market as expectations for a US Fed interest rate hike weakened, but Japan's interest rate hike could reverse this mood. However, not all experts are concerned about this. Goldman Sachs explained that despite the rise in Japanese government bond yields, it expects the yen's weakness to continue, and still considers the yen carry trade, which involves borrowing yen for investment, to be a valid strategy."
