cryptocurrency-and-stock-market2.2 min read "Japanese Stocks Tumble as BOJ Considers Exiting Negative Rates"
Bitcoin traded slightly higher in Asia as Japan's Nikkei index fell over 2% amid talks that the Bank of Japan could raise interest rates, potentially impacting the cryptocurrency and stock markets. The leading cryptocurrency was changing hands at $69,000, up over 1% on a 24-hour basis, after setting a new record high above $70,000 on Friday. The potential unwinding of BOJ's pro-liquidity stance and resulting yen strength may jeopardize the yen carry trade and impact the ongoing risk-on rally in financial markets, including technology stocks and cryptocurrencies. However, the consensus in the crypto market is that any dip in bitcoin is likely to be short-lived, with prices potentially rallying into six figures in the coming months.
2 years ago•Source: CoinDesk
