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06/16 05:11

Bitcoin rises after Bank of Japan hikes interest r

Bitcoin rises after Bank of Japan hikes interest rates to a 31-year high #HTX Creation Challenge — Post and Win 1,500U 💥 #World Cup Predictions: 100,000 USDT Daily #BTC Prophet: 20-Day 380 Million HTX Challenge

Summary The Bank of Japan raised its key interest rate by 25 basis points to 1 percent, the highest level since 1995, while signaling it may tighten further if inflation accelerates. Despite rate hikes typically weighing on risk assets, bitcoin rose from about $65,600 to $66,000 after the decision, as markets focused on the BOJ’s unexpectedly dovish stance on bond purchases. The BOJ’s move to pause its bond taper and fix monthly JGB purchases around 2 trillion yen is seen as an effort to cap long-term yields and support financial markets even as short-term policy tightens.

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