The Bank of Japan raised interest rates by 25 basis points today on June 16. They took the policy rate from 0.75 percent up to 1 percent.

Markets already had this move priced in, so market barely reacted to the news. That said, the tone from the central bank was still quite hawkish, with clear signals that more rate hikes could be coming soon.

At the moment, the peace deal between the United States and Iran seems to be the bigger driver for the markets right now.

Even so, it makes sense to stay cautious. Big money is watching the yen very closely. If the yen starts strengthening sharply, the unwind of carry trades could hit fast and hard. These unwinds often bring sudden selling pressure to risk assets like $BTC , so having your risk management tight is a smart move for now.

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