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Bitcoin advanced in the wake of a Japanese interest rate increase, pulling several altcoins higher alongside it, CoinDesk reported.
Stellar ($XLM), Uniswap ($UNI), and Injective ($INJ) were among the tokens that posted gains during the move.
Japan Rate Decision as Catalyst The Bank of Japan's rate action provided the macro backdrop for the market shift.
A rate increase from Tokyo carries weight in crypto markets because it affects the yen carry trade — a long-standing mechanism in which investors borrow cheaply in yen to deploy capital into higher-yielding assets, including risk assets like Bitcoin.
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