Interest rate hikes in Japan push up global borrowing costs, Bitcoin faces short-term pressure but remains resilient, Goldman Sachs is still shorting the yen, this game is interesting.

CoinWorld says that rising interest rates in Japan are pushing up global bond market yields, posing challenges for Bitcoin. Bitcoin rose 8% over the past seven days to $63,284, but Japan's 10-year yield climbed to 2.85%, raising borrowing costs in developed markets. Government bond yields in the U.S., Germany, the U.K., and other countries also rose. Despite this, Goldman Sachs still predicts that the yen will continue to weaken and favors yen-funded trades.