Bank of Japan News

Bitcoin and several major altcoins are attempting to start a recovery, but negative investor sentiment and selling at range highs are preventing a stronger bull trend from forming.

Bitcoin headed higher despite the Bank of Japan's interest-rate hike while reactions saw bullish risk-asset signals and no further policy tightening.

The total crypto market cap fell to $2.93 trillion, its lowest since April, erasing yearly gains as analysts anticipated further declines.

Bitcoin rallies continue to be capped by selling near the intra-day range highs, and the expectation of a Bank of Japan interest rate hike could amplify the downturn in BTC and altcoins.

The Bitcoin parabola broke, leading some analysts to predict an 80% drawdown in BTC price. Will growing demand from traditional finance and strategic crypto reserves nullify all bearish predictions?

The Bank of Japan is expected to increase its benchmark interest rates on Friday, a historically bearish signal for riskier assets like Bitcoin.

Japan’s FSA is set to mandate liability reserves for crypto exchanges to boost consumer protection. The new rules are set to change the market.

Japan’s stimulus package has shaken global markets, including Bitcoin, while the UK cracks down on Russian money laundering and sanctions evasion with crypto.

Japan’s FSA plans to reclassify crypto as financial products, enforce new disclosure and insider trading rules, and cut the crypto tax rate from 55% to a flat 20%.

Japan’s first yen stablecoin issuer, JPYC, said growing demand could make stablecoin reserves a new force in the country’s bond market.

The loan came shortly after Metaplanet launched a $500 million Bitcoin-backed share buyback program, after its market-based net asset value fell below 1.0.

Bybit’s pause comes as Japan’s FSA considers reforms that could allow banks to hold Bitcoin and operate licensed exchanges.

Circle’s Arc has seen strong early adoption, with over 100 global financial and fintech giants, including BlackRock, Goldman Sachs, Visa and Mastercard, joining its public testnet.

Hayes previously predicted that Bitcoin’s price would soar to $250,000 when the Bank of Japan pivoted to quantitative easing measures.

An $11 billion Bitcoin whale returned to crypto markets this week, likely seeking trading opportunities tied to October’s historic crypto rallies and uncertainty in the US.