Glassnode co-founder analyzes the impact of Japan's interest rate hike: Bitcoin is expected to thrive after policy pressures
Odaily Planet Daily reported that Glassnode co-founder Negentropic published an analysis on platform X regarding the impact of Japan's interest rate hike. He pointed out that what the market fears is not tightening, but uncertainty; sometimes market volatility can actually present an opportunity. The normalization of the Bank of Japan's policies has actually brought clarity to the global capital markets, and Bitcoin typically thrives after experiencing policy pressures.
Previously, analyses indicated that Japan's interest rate hike may not trigger risk-averse sentiment in the crypto market. Firstly, speculators currently hold a net long (bullish) position in yen, making it unlikely to respond quickly to the Bank of Japan's interest rate hike. Secondly, Japan's government bond yields have been continuously rising this year, with both short-term and long-term yield curves reaching decades-highs. The upcoming interest rate hike reflects that the official rates are catching up with market pace, indicating a lower likelihood of risk-averse sentiment emerging by the end of the year.
