Bitcoin: Surges vs Yen After Japan Hikes Rates
Bitcoin surges as Japan raises rates to 1.25%, highest in 31 years, weakening yen and pressuring yen carry trade unwind.
SourceAnalysis
Bitcoin surged against the yen after Japan lifted interest rates to 1.25%, the highest level in 31 years, while the yen weakened and revived scrutiny on yen carry trade unwind impact on Bitcoin.
Price action on the 4h chart shows BTC at $77318.57 inside the Bollinger band with upper resistance at $77595.9; the neutral RSI at 56.44 leaves room for continuation while the MACD golden cross and price holding above the EMA50 support at $77153.0 reinforce the bullish structure against yen-funded positions.
Kashif Raza
@simplykashifThis personal account shares perspectives on technology startups and digital innovation, with content spanning AI advancements, software development trends, and entrepreneurial strategies for building tech-focused businesses.
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