Bitcoin rebounds on Japan rate hike as Arthur Hayes sees dollar at 200 yen
Bitcoin rose following the Bank of Japan's rate hike, with Arthur Hayes predicting a surge in BTC and the USD/JPY rate.Summary
Bitcoin (BTC) experienced a price gain, aiming for $88,000, in a surprisingly bullish reaction to the Bank of Japan (BoJ) raising interest rates to 30-year highs around 0.75%. Arthur Hayes, former BitMEX CEO, viewed this move positively, suggesting it implies negative real rates will continue, leading him to forecast the USD/JPY rate reaching 200 and BTC hitting "a milly." Other analysts, like Temple 8 Research, believe the market overestimates the BoJ's hawkishness, predicting rates won't rise further before 2027 to avoid exploding interest payments on Japan's stimulus package. Bitcoin's rally coincided with gains in US stock futures, though traders remained cautious, noting BTC still lacked a "true capitulation event" necessary to confirm a bottom, with $81,000 being a key support level.
(Source：Cointelegraph)