Bitcoin Trades Slightly Higher in Asia as Bank of Japan's Low-Interest Rates Could Soon Fall

Bitcoin saw a slight increase in trading in Asia while Japan's Nikkei index fell over 2%. The Bank of Japan, which has been a stronghold of low-interest rates, may soon fall, according to Reuters. Talks of the Bank of Japan's potential fall caused Asian equity markets to falter, with the CoinDesk 20 Index down 2.17%. The Bank of Japan is under pressure to raise rates due to rising domestic inflation and the potential for wage hikes, which could jeopardize the yen carry trade and impact the ongoing year-long risk-on rally in financial markets, including technology stocks and cryptocurrencies.