ChainCatcher News reports that Yuya Hasegawa, cryptocurrency market analyst at Japanese bitcoin exchange Bitbank, has issued a warning about the outcome of the Bank of Japan's policy meeting starting Thursday, saying that bitcoin is not out of the woods yet.

He said: "The Bank of Japan may keep policy rates unchanged this time, but signs of further rate hikes could boost the yen and potentially trigger a yen carry trade unwind, which could lead to a sell-off in Japanese stocks, and risk-off sentiment could spill over into the cryptocurrency market. Bitcoin has some time before the Bank of Japan makes its decision, and could continue its rally in the US trading session on Thursday. The next potential short-term target is around $65,000."