Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesBotsEarnCopy
Market Analysis: Another obstacle to Bitcoin’s rise is about to collapse

Market Analysis: Another obstacle to Bitcoin’s rise is about to collapse

CointimeCointime2024/03/11 08:21
By:Cointime

According to Coindesk, Bitcoin rose on Monday as rumors of the Bank of Japan potentially loosening its policies regarding ultra-low interest rates shook the Asian market. Some Asian stock indices fell, with the Nikkei and ASX indices in Japan and Australia respectively dropping by 2%. Earlier reports suggested that the Bank of Japan may raise its benchmark interest rate this month, which would be the first time since 2007. In addition, the Bank of Japan may abandon its bond-buying program after ending its negative interest rate policy. Analysts have long warned that the Bank of Japan is a major source of uncertainty for both traditional and cryptocurrency markets. The potential lifting of the Bank of Japan's support for a liquidity stance and resulting strengthening of the yen could jeopardize yen carry trades, which could strengthen the risk appetite rebound of financial markets, including tech stocks and cryptocurrencies, that has lasted for a year.

0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Locked for new tokens.
APR up to 10%. Always on, always get airdrop.
Lock now!

You may also like

Vietnam approves digital tech law recognizing crypto assets

Share link:In this post: Vietnam passed a new digital technology law that starts in 2026. The law sets clear rules for crypto and virtual assets. It supports tech growth and helps stop crypto scams.

Cryptopolitan2025/06/15 18:41
Vietnam approves digital tech law recognizing crypto assets

British Telecom CEO says AI could deepen job cuts

Share link:In this post: BT Group CEO Allison Kirkby says the company would cut about 40,000 jobs and save $4 billion. She sold BT Italia and their Irish enterprise division. Kirkby is also considering separating Openreach from the main company.

Cryptopolitan2025/06/15 18:41