BOJ is expected to announce interest rate hike - more uncertainty?
We may be seeing market volatility. Nikkei Asia is expecting a 75bps interest rate hike from Bank of Japan that is expected to rattle the market.
From X user Wimar.X:
BITCOIN DUMPS 20%+ EVERY TIME JAPAN HIKES RATES
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THIS FRIDAY, BOJ WILL HIKE RATES TO 75 BPS. FIRST TIME IN 17 YEARS. BUT HOW DOES IT WORK? JAPAN IS THE CHEAP MONEY HUB. INSTITUTIONS BORROW JPY AND PUMP IT IN RISK ASSETS LIKE $BTC. → RATE HIKES → YEN UP → CARRY TRADES UNWIND → LIQUIDITY DRAINS → BTC GETS SOLD
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