🔥Glassnode co-founder Negentropic posted on X to analyze the impact of Japan's interest rate hike, noting that what the market fears is not tightening itself, but uncertainty. Sometimes, market volatility can actually present opportunities. The normalization of the Bank of Japan's policy has in fact brought greater clarity to global funding markets, and Bitcoin typically thrives after periods of policy pressure.

Earlier analysis suggested that Japan's rate hike may not trigger risk-off sentiment in the crypto market. First, speculators currently hold significant net long (bullish) positions in yen, making a swift reaction to the BoJ's rate hike less likely;

Second, Japanese government bond yields have continued rising this year, with both short-term and long-term yield curves reaching multi-decade highs. The upcoming rate hike reflects official rates catching up with market movements, indicating a lower likelihood of risk-averse behavior by year-end.$BTC $ETH

[Odaily]