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The highly anticipated decision by the Bank of Japan landed yesterday, and as expected, it was a 25 basis point hike. This marks Japan’s highest bank rate in nearly 30 years. Historically a bearish signal for Bitcoin and other risk-on assets, that narrative did not play out yesterday.
In yesterday’s Morning Note, we covered Bitcoin dipping below 85K and struggling to hold above it. As the rate decision approached, Bitcoin began creeping higher, reaching 87K during the Asian session even before the announcement. After the decision and through the volatility of the US session, Bitcoin managed to remain above 88K, gaining more than 3% over the last 24 hours.
Since this move had been expected for weeks, many investors were already positioned. The announcement did not come as a surprise, so most markets stayed relatively stable over the past day despite some calling for a sharper downside reaction.
Morning Note Holiday Period Release Calendar:
A big thank you to everyone who has supported the Morning Note this year, from long-time readers and new subscribers to everyone who engaged with views, likes and comments. Your support is genuinely appreciated.
As we move into the holiday season, the release schedule will shift slightly over the next couple of weeks.
Morning Notes will be published every Monday and Tuesday on 22 and 23 December, and again on 29 and 30 December. If major price action or significant announcements occur during the break, we will release additional Morning Notes to keep you updated.
We will return with a refreshed Morning Note starting on 5 January. Wishing everyone a great holiday season.
Stormrake Spotlight: Pax Gold (PAXG) ($4,353)
Stormrake Spotlight: Pax Gold (PAXG) ($4,353)
