TechFlow news — On February 25, according to an article by Coindesk analyst Omkar Godbole, the Japanese yen has appreciated nearly 6% over six weeks amid market expectations that the Bank of Japan will raise interest rates.
Markets are concerned that this yen strength could replay the scenario from July last year, when a rate hike by the Bank of Japan triggered a sharp appreciation in the yen and sparked widespread risk aversion. As a result, bitcoin plunged from around $65,000 to $50,000 within days.
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