Bitcoin's December just got a rate-hike problem — from Tokyo.
Japan's September core CPI rose to 2.1%, crossing the Bank of Japan's 2% target for the first time since December. It matched forecasts, but removes the doves' last excuse: dissenters who voted against September's 1.25% hike argued inflation was still below target. It isn't anymore.
Reuters sources say the BOJ will likely use next week's meeting to signal underlying inflation has roughly hit 2% — keeping a December hike to 1.50% on the table. And it's not alone: CME FedWatch puts an 80.5% chance on a Fed hike by December 9, with the BOJ meeting December 17–18.
Why it matters: two of the world's biggest central banks tightening in the same month would tighten global liquidity — the classic headwind for risk assets. $BTC sits near $82K (-1.0%/24h) heading into it. Counterweight: some of this is already priced — polls already lean toward a December hike, and 2.1% matching forecast exactly isn't a shock.
Does December's crypto rally thesis survive two rate hikes?
$BTC #Bitcoin #BOJ #Inflation #Macro
Japan's September core CPI rose to 2.1%, crossing the Bank of Japan's 2% target for the first time since December. It matched forecasts, but removes the doves' last excuse: dissenters who voted against September's 1.25% hike argued inflation was still below target. It isn't anymore.
Reuters sources say the BOJ will likely use next week's meeting to signal underlying inflation has roughly hit 2% — keeping a December hike to 1.50% on the table. And it's not alone: CME FedWatch puts an 80.5% chance on a Fed hike by December 9, with the BOJ meeting December 17–18.
Why it matters: two of the world's biggest central banks tightening in the same month would tighten global liquidity — the classic headwind for risk assets. $BTC sits near $82K (-1.0%/24h) heading into it. Counterweight: some of this is already priced — polls already lean toward a December hike, and 2.1% matching forecast exactly isn't a shock.
Does December's crypto rally thesis survive two rate hikes?
$BTC #Bitcoin #BOJ #Inflation #Macro