Today, the Bank of Japan announced a rate hike to 0.25% and reduced bond purchases, a move that caused Bitcoin prices to fluctuate wildly. As the yen continues to depreciate against the dollar, the market is paying close attention to the upcoming meeting of the U.S. Federal Reserve, with analysts currently predicting a possible 25 basis point rate cut in September. Bitcoin fell to the $65,500 support level against this backdrop, but then rebounded above $66,000, triggering a broad market reaction.
Key Points
- The Bank of Japan's first rate hike to 0.25% caused Bitcoin and stock markets to fluctuate wildly.
- The Bank of Japan plans to reduce monthly bond purchases to about 3 trillion yen (about $19.6 billion) by the first quarter of 2026.
- The depreciation of the yen has increased the pressure on the Bank of Japan to raise interest rates, achieving a net positive interest rate for the first time in two decades.
- Bitcoin prices fluctuated repeatedly around the $65,500 support level, showing high market volatility.
- As the U.S. Federal Reserve meeting approaches, the market is nervous about rate hikes and policy changes.
- Ethereum prices fluctuated around $3,000 and have begun to show positive ETF inflow signals.
- XRP price rises 9%, showing its market vitality despite weak overall market sentiment.
