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Bank of Japan to Hike Rates to 30-Year High, Impacting Bitcoin

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Bitcoin news breaks as the Bank of Japan prepares to raise rates by 25 basis points to 0.75% on Dec. 19, the first hike since January. This would push Japanese rates to a 30-year high. Historically, such moves have pressured BTC as the yen strengthens. The yen is currently near 156 against the dollar. Altcoins to watch may face similar headwinds if the trend continues. Carry trades remain stable, as yen longs and higher bond yields cushion the impact. The Fed’s rate cut to a three-year low also limits yen unwinds.
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