Japan’s 10 year bond yield rose to 3.075%, its highest since 1996, after the BOJ raised its policy rate to 1.25%.Higher Japanese borrowing costs could pressure yen funded trades, although there are no clear signs of a disorderly carry trade unwind.Bitcoin already faces pressure from US Treasury yields above 5%, a stronger dollar and growing expectations for another Fed rate hike.Japan’s rising domestic yields could encourage institutions to keep more capital at home as returns on JGBs become more competitive.