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03:37
Japan's 30-year government bond yield rises to 3.385%
According to Odaily, the yield on Japan's 30-year government bonds rose by 1 basis point to 3.385%. (Golden Ten Data)
03:35
Japan Raises Interest Rates: Bitcoin Surges Over 2% in Response
BlockBeats News, December 19th, according to an exchange market information, with market concerns about Japan's interest rate hike "shoe drop," Bitcoin rose by 2.19%, now trading at $87,489. Earlier reports indicated that the Bank of Japan raised interest rates by 25 basis points as scheduled, while also stating that if the economic and price trends are in line with expectations and improve along with the economy and prices, they will continue to raise the policy rate.
03:33
Bitcoin has recorded drops of over 20% following each of the previous three rate hikes by the Bank of Japan.
BlockBeats News, December 19, according to market information, since 2024, the Bank of Japan has raised interest rates three times, specifically in March 2024, July, and January this year. Over the past decades, global capital market liquidity has not come solely from the United States; a significant portion actually originates from Japan. Due to Japan's long-term zero interest rate and even negative interest rate policy (NIRP), combined with an extremely loose monetary environment, Japan has effectively served as a cheap funding ATM for the global financial system. Therefore, Japan's interest rate hikes have a significant tightening effect on global liquidity. Bitcoin's price performance after each of these three rate hikes has been a decline, with drops of 23.06%, 26.61%, and 31.89% respectively. However, the latest round of rate hikes in Japan was widely anticipated in advance, and the market had already responded ahead of time. Whether this rate hike will cause Bitcoin to repeat its previous declines remains uncertain.
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