The selection of Shigeru Ishiba as Japan's next prime minister, who is believed to be supportive of higher interest rates, triggered a rise in the yen and a decline in Japan's Nikkei stock average. This led to a selloff in bitcoin, causing its price to fall from $66,000 to as low as $63,300. Prior to this, bitcoin had been experiencing a strong bull run following the U.S. Federal Reserve's rate cut.



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