Crypto markets experienced a dip on Thursday as news of an anticipated Bank of Japan interest rate hike sent the yen surging against both Bitcoin and the US dollar. U.S. Treasury Secretary Scott Bessent predicts that the BOJ will raise rates to combat inflation, leading to increased demand for the Japanese Yen. This move has impacted trading platforms like BitFlyer and Coinbase, with BTC/JPY dropping 1.7% and Bitcoin’s price slipping to $121,650. Meanwhile, the USD/JPY currency pair also saw a decline, marking its third consecutive drop. The market reaction suggests that investors are shifting away from risk-off trading strategies triggered by the yen’s volatility in the past.