The Bank of Japan raised its policy rate by 25 basis points today, from 1.0% to 1.25%, marking its highest level in about 31 years, with the decision passing 7 to 2. With this rate hike from the yen side, expectations of tighter global liquidity have once again come back into focus, and crypto, as a risk asset, has always tended to move with the macro backdrop.
The market has been relatively calm for now, with major cryptocurrencies trading in a narrow range. At the time of writing, $BTC is hovering around $77.2K, up about 1.2% over the past 24 hours; $ETH is at $2,473, up about 1.7%.
The market has been relatively calm for now, with major cryptocurrencies trading in a narrow range. At the time of writing, $BTC is hovering around $77.2K, up about 1.2% over the past 24 hours; $ETH is at $2,473, up about 1.7%.