Analysis: The anticipated yen interest rate hike is unlikely to induce risk aversion in the cryptocurrency market

The last interest rate hike by the Bank of Japan saw Bitcoin’s value decrease substantially from 65,000 USD to 50,000 USD, highlighting the sensitivity of Bitcoin to market risk aversion.

Current long positions in the yen and rising Japanese government bond yields at multi-decade highs suggest that the cryptocurrency market will remain stable despite the anticipated rate hike.