Bitcoin Rebounds After Japan Rate Hike as Yen Weakens

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Bitcoin headed higher despite the Bank of Japan's interest-rate hike while reactions saw bullish risk-asset signals and no further policy tightening.

Bitcoin aimed for $88,000 on Friday after Japan’s central bank raised interest rates to 30-year highs.

Bitcoin joins US stocks futures heading higher in a curiously bullish reaction to Japan’s interest-rate hike.

Commentators argue that no further hikes will happen due to economic forces.

Bitcoin continues to hammer out a bottom on longer timeframes.

Arthur Hayes eyes BTC price, yen surge

In line with expectations, the Bank of Japan (BoJ) hiked rates to around 0.75% on the day, marking their highest levels in three decades and ending the country’s latest period of “cheap” money.

Against a backdrop of global central-bank policy easing, Japan’s move stood out. While the hike was notionally a headwind for crypto and risk assets, reactions were optimistic.


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