The Bank of Japan joined the recent wave of central banks raising interest rates, lifting its policy rate overnight. The move did not stop the Japanese yen from weakening further.
Bitcoin Nears $81,000 While U.S. Stocks Decline
Bitcoin has moved above $80,000 and is outperforming U.S. equities, with the major stock indexes trading lower. The Nasdaq 100, S&P 500 and Dow Jones Industrial Average are all down, while the iShares Russell 2000 ETF and iShares Expanded Tech-Software Sector ETF are also in negative territory.
Crypto-related stocks, however, are posting strong gains. Strategy has jumped 11%, Coinbase is up 9%, and Robinhood has gained 7%.
Bond yields are rising across major markets. The U.S. 10-year Treasury yield has climbed back above 5%, while yields in Germany, France and the U.K. are also moving higher. The U.S. Dollar Index is approaching 100.5, while metals are registering modest gains.
Bitcoin Reclaims $80,000 at U.S. Market Open
Bitcoin accelerated higher as U.S. trading began, breaking above $80,000 and rising about 5% over the previous 24 hours.
The cryptocurrency had fallen toward $75,000 earlier in the week after the CLARITY Act failed to advance and the Federal Reserve delivered a 25-basis-point rate increase.
The rally has also lifted crypto-linked equities. Strategy is up 7.5%, Coinbase has gained 5.5%, and Circle has risen 5.7%.
ProCap Financial to Join Russell 2000
ProCap Financial is set to enter the Russell 2000 on Monday, placing the company in one of the main U.S. small-cap stock indexes. It will also be added to the Russell 3000.
The company was initially established during the 2025 bitcoin treasury boom but has since changed its business strategy toward agentic finance. It will adopt the name Silvia and begin trading under the SVIA ticker on Sept. 22.
ProCap continues to hold more than 5,000 bitcoin despite the shift in its business model.
Yen Falls Even After BOJ Raises Rates
The Bank of Japan increased its interest rate by 25 basis points to 1.25%, but the yen continued to lose ground. USD/JPY has risen to 157.65, leaving the yen more than 1% weaker over the past 24 hours.
The decline creates renewed pressure on Treasury Secretary Scott Bessent, who previously stepped in to support the currency when USD/JPY approached 162. The yen has since given back around half of the gains recorded following that intervention.
The Federal Reserve also raised rates by 25 basis points earlier this week, moving its target range to 3.75%–4.00%. Further Fed increases are expected, while the DXY remains above 100, conditions that could continue weighing on the yen.
Buffett to Step Down as Berkshire Chairman
Warren Buffett is preparing to leave his position as chairman of Berkshire Hathaway after 61 years leading the company. The 96-year-old investor announced the decision in a shareholder letter Friday, according to CNBC.
Buffett will remain with Berkshire as chairman emeritus and a board member. His son, Howard Buffett, is set to become chairman, while Susan Decker will remain the company’s lead independent director.
Buffett, who has long criticized bitcoin, reflected on the transition by acknowledging the passage of time while expressing strong confidence in Berkshire’s future.
Risk Assets Gain Before Friday’s U.S. Open
Risk assets were trading higher ahead of the U.S. market open. The Invesco QQQ ETF rose 0.5% in premarket trading, while Bitcoin gained more than 2% to move above $78,000.
Gold added another 1% and was trading just below $4,400. The U.S. 10-year Treasury yield was at 4.96%, while AI stocks and semiconductor ETFs also moved higher.
Bullish, the parent company of CoinDesk, gained 3%, while Securitize climbed 7%. Both stocks extended their Thursday advances after the SEC approved an innovation exemption aimed at facilitating trading in tokenized stocks.
Coinbase and Robinhood each rose about 5% on Thursday and were another 2% higher in premarket trading Friday.
HYPE, ZEC and SOL Drive Crypto Gains
Hyperliquid’s HYPE jumped more than 11% to nearly $89 during Friday’s Asian trading session, leading gains among major cryptocurrencies, according to CoinDesk data.
Zcash gained 8% to around $1,472, while Solana advanced 6% to above $106. BNB and Dogecoin each climbed about 4%, while XRP, Ether and Bitcoin added roughly 2%. TRON gained less than 1%.
Bitcoin was trading just below $78,000 after briefly falling to $75,972 during U.S. hours. The recovery erased the overnight decline and marked a third consecutive day of gains. Total crypto market capitalization increased 2% to about $2.66 trillion.
According to FxPro chief market analyst Alex Kuptsikevich, all 40 of the most liquid cryptocurrencies were higher during the period. He said traders were cautiously shifting toward altcoins, although the broader altcoin season index remained weak. NEAR gained 30%, followed by UNI at 26% and APT at 18%.
The crypto rally coincided with gains in equities and broader risk appetite. It followed the Fed’s quarter-point rate hike, which did not produce the reaction in traditional markets that investors had anticipated.
Bitcoin is now approaching the upper end of its established trading range around $82,000. Kuptsikevich expects weekend profit-taking could prevent an immediate move toward that level.
