The Bank of Japan is expected to raise interest rates to 0.75%, the highest level in nearly 30 years, according to Nikkei.
The move could have broader implications for global markets, including cryptocurrencies.
Historically, a stronger yen and rising Japanese rates have tightened global liquidity, putting pressure on risk assets like bitcoin.
Analysts warn that higher funding costs could unwind yen carry trades, forcing leveraged investors to reduce exposure.
Bitcoin is currently trading near $89,700 as markets weigh the potential macro impact.
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