The Bank of Japan is leaning toward not raising rates in October. What does that have to do with crypto? When interest rates are high, you can earn a return just by holding dollars or U.S. Treasuries. Who wants to hold an asset like Bitcoin that swings up and down all day?
$BTC Current price: 83,724, up 0.11% in 24 hours and down 2.4% over 7 days. The market barely moved after the news came out, as if it had already been priced in.
When it comes to interest rates, the market trades on expectations. What really moves prices is how much better or worse the news is than expected. Wicks also tend to get longer around data releases, and traders maxing out their leverage are the easiest to liquidate.
Do you think the news was already priced in, or does nobody care at all?
$BTC Current price: 83,724, up 0.11% in 24 hours and down 2.4% over 7 days. The market barely moved after the news came out, as if it had already been priced in.
When it comes to interest rates, the market trades on expectations. What really moves prices is how much better or worse the news is than expected. Wicks also tend to get longer around data releases, and traders maxing out their leverage are the easiest to liquidate.
Do you think the news was already priced in, or does nobody care at all?