The Bank of Japan raised interest rates overnight, joining other major central banks that have recently tightened policy. The move failed to provide support for the Japanese yen, which continued to slide.
Bitcoin Approaches $81,000 as U.S. Stocks Move Lower
Bitcoin has pushed above $80,000, gaining while major U.S. equity indexes move lower. The Nasdaq 100, S&P 500 and Dow Jones Industrial Average are all trading in the red, along with the iShares Russell 2000 ETF and the iShares Expanded Tech-Software Sector ETF.
Crypto-related shares are outperforming the broader stock market. Strategy has climbed 11%, Coinbase is up 9%, and Robinhood has added 7%.
Bond yields are also climbing globally. The U.S. 10-year Treasury yield has moved back above 5%, while benchmark yields in Germany, France and the U.K. are rising as well. The U.S. Dollar Index is approaching 100.5, while metals are recording modest gains.
Bitcoin Regains $80,000 After U.S. Market Opens
Bitcoin accelerated its advance at the start of U.S. trading, moving above $80,000 and posting a roughly 5% gain over the previous 24 hours.
BTC had fallen toward $75,000 earlier in the week following the failure of the CLARITY Act and the Federal Reserve’s 25-basis-point rate hike.
Crypto-linked stocks have also moved higher, with Strategy up 7.5%, Coinbase gaining 5.5% and Circle rising 5.7%.
ProCap Financial Added to Russell Indexes
ProCap Financial is scheduled to enter the Russell 2000 on Monday, making it part of the closely followed small-cap benchmark. The company will also be included in the Russell 3000.
ProCap was launched during the 2025 bitcoin treasury-company boom but has since shifted its business toward agentic finance. The company will rebrand as Silvia and begin using the SVIA ticker on Sept. 22.
Despite the business transition, ProCap continues to hold more than 5,000 bitcoin.
Yen Weakens Despite BOJ Rate Increase
The Bank of Japan raised its policy rate by 25 basis points to 1.25%, but the yen continued to weaken. USD/JPY reached 157.65, leaving the Japanese currency more than 1% lower over the past 24 hours.
The latest decline adds pressure on Treasury Secretary Scott Bessent, who previously intervened to support the yen when USD/JPY was near 162. The currency has now surrendered roughly half of the gains made following that intervention.
The Federal Reserve also increased rates by 25 basis points earlier this week, bringing the federal funds target range to 3.75%–4.00%. Expectations for additional Fed hikes, combined with the DXY remaining above 100, could add further pressure to the yen.
Warren Buffett to Leave Berkshire Chair
Warren Buffett will step down as chairman of Berkshire Hathaway after 61 years leading the conglomerate. The 96-year-old investor announced the decision in a shareholder letter Friday, according to CNBC.
Buffett will remain involved with Berkshire as chairman emeritus and a board director. His son, Howard Buffett, will succeed him as chairman, while Susan Decker will retain her position as lead independent director.
Buffett, who has been openly critical of bitcoin, acknowledged the passage of time in his statement while expressing confidence in Berkshire’s long-term prospects.
Risk Assets Rise Ahead of U.S. Session
Risk assets were broadly higher before Friday’s U.S. market open. The Invesco QQQ ETF gained 0.5% in premarket trading, while bitcoin rose more than 2% and moved above $78,000.
Gold added another 1% to trade just below $4,400. The U.S. 10-year Treasury yield stood at 4.96%, while AI-focused shares and semiconductor ETFs also advanced.
Bullish, CoinDesk’s parent company, gained 3%, while Securitize rose 7%. Both extended Thursday’s gains after the SEC approved an innovation exemption designed to support trading in tokenized stocks.
Coinbase and Robinhood each gained about 5% Thursday and were another 2% higher in Friday’s premarket trading.
HYPE, ZEC and SOL Lead Crypto Gains
Hyperliquid’s HYPE climbed more than 11% to nearly $89 during Asian trading hours Friday, making it the strongest performer among major cryptocurrencies, according to CoinDesk data.
Zcash rose 8% to approximately $1,472, while Solana gained 6% to just above $106. BNB and Dogecoin each advanced around 4%, while XRP, Ether and Bitcoin gained about 2%. TRON was up less than 1%.
Bitcoin traded just below $78,000 after touching $75,972 during U.S. hours. The rebound erased the earlier overnight decline and extended its winning streak to three sessions. Total crypto market capitalization rose 2% to roughly $2.66 trillion.
All 40 of the most liquid cryptocurrencies were higher during the period, according to FxPro chief market analyst Alex Kuptsikevich. He said traders were cautiously turning toward altcoins even though the broader altcoin season index remained subdued. NEAR gained 30%, followed by UNI at 26% and APT at 18%.
The gains came alongside stronger equities and renewed risk appetite, one day after the Fed’s quarter-point rate hike failed to trigger the response traditional markets had been anticipating.
Bitcoin is now nearing the upper boundary of its established range around $82,000. Kuptsikevich expects traders taking profits ahead of the weekend could slow an immediate attempt to break that level.
