Bank of Japan Hikes Interest Rate to 0.75%, Bitcoin Sees Over 2% Rebound
The Bank of Japan (BoJ) increased its unsecured overnight call rate by 25 basis points to 0.75% on December 19, reaching its highest level since 1995, as reported by BlockBeats. This decision prompted a swift rebound in the cryptocurrency market, with Bitcoin briefly gaining over 2%. Following the announcement, trader Eugene Ng Ah Sio noted that most altcoins are nearing the conclusion of their declines. Analyst 半木夏 identified key Bitcoin resistance levels between $98,600 and $107,000, with $112,500 representing a strong barrier. Industry figures like Arthur Hayes projected a USD/JPY rate of 200 and Bitcoin at $1 million, while Garrett Jin set initial targets for Bitcoin at $106,000 and Ethereum at $4,500.