ChainCatcher message, 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 opportunities. 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.
Previous analyses have indicated that Japan's interest rate hike may not trigger risk-averse sentiment in the cryptocurrency market. Firstly, speculators currently hold a significant net long (bullish) position in yen, so they are unlikely to react quickly to the Bank of Japan's interest rate hike. Secondly, Japanese government bond yields have been climbing steadily this year, with both short-term and long-term yield curves reaching new highs not seen in decades. The impending interest rate hike reflects that the official rate is catching up with market pace, indicating a low likelihood of risk-averse sentiment emerging by the end of the year.
