After the BoJ rate hike, BTC is still rising; the market has not yet been scared by “carry trade” transactions
Today, the Bank of Japan raised interest rates to 1.25%, the highest in 31 years. In theory, higher yen funding costs could squeeze leverage across global risk assets, but BTC did not see a sharp drop. Instead, it held around $77,991, with an intraday high of $78,359.
This suggests the first reaction is rather stable: the yen did not quickly appreciate enough to trigger mass liquidations, and ETF inflows have appeared again—so the market has temporarily interpreted the rate hike as “already priced in.”
Now the focus is on three signals:
First, whether BTC can hold above $77,000;
Second, whether there is sustained trading volume above the $78,000—$78,500 range;
Third, if the yen and U.S. Treasury yields strengthen again, whether BTC will experience a stall rather than continued gains.
If by the weekend the price stabilizes above $78,000, the next step to watch is $79,500—$80,000. If capital starts flowing out again from the high levels, today’s rally may just be a short-term rebound after the event. Do you think this current run can break through and hold above $80,000?
$BTC $ETH $BNB
Today, the Bank of Japan raised interest rates to 1.25%, the highest in 31 years. In theory, higher yen funding costs could squeeze leverage across global risk assets, but BTC did not see a sharp drop. Instead, it held around $77,991, with an intraday high of $78,359.
This suggests the first reaction is rather stable: the yen did not quickly appreciate enough to trigger mass liquidations, and ETF inflows have appeared again—so the market has temporarily interpreted the rate hike as “already priced in.”
Now the focus is on three signals:
First, whether BTC can hold above $77,000;
Second, whether there is sustained trading volume above the $78,000—$78,500 range;
Third, if the yen and U.S. Treasury yields strengthen again, whether BTC will experience a stall rather than continued gains.
If by the weekend the price stabilizes above $78,000, the next step to watch is $79,500—$80,000. If capital starts flowing out again from the high levels, today’s rally may just be a short-term rebound after the event. Do you think this current run can break through and hold above $80,000?
$BTC $ETH $BNB