Markets bounced back after the Bank of Japan’s move 🇯🇵
The Bank of Japan raised rates by 25 bps to 0.75%, the highest in 30 years (Bloomberg).
Even with the hike, Bitcoin went up, along with U.S. stock futures. Markets believe no more global rate tightening is coming.
BTC and ETH reclaimed key levels, helped by strong Asian markets and softer U.S. inflation data. This boosted hopes for a future Fed rate cut.
Bitwise CIO Matt Hogan summed it up well:
Crypto’s macro outlook is mixed and confusing — Japan’s hike is a headwind, but a possible U.S. rate cut is still a tailwind.
BTCUSDT
Prep
88,255.5
+0.22%
ETHUSDT
Prep
2,974.01
-0.13%