The Federal Reserve delivered its first rate hike in nearly three years, while the Bank of Japan raised rates to a 31-year high. Sentiment in the crypto market recovered after the expected hawkish moves, with Bitcoin surpassing $77,000.
The Federal Reserve has implemented its first interest rate hike in nearly three years. Market sentiment recovered as the widely anticipated hawkish move was priced in, and crypto assets rose against the trend. The rate hike directly impacts short-term risk asset pricing and global liquidity expectations.
The Bank of Japan raised its benchmark rate by 25 basis points to the highest level in 31 years. After the yen weakened, Bitcoin broke above $77,000. Policy moves by major Asian central banks have become the latest macro driver for the crypto market.
