Crypto Market Stabilizes as BOJ Maintains Interest Rate Amid Slowing Inflation
- The Bank of Japan (BOJ) held its benchmark interest rate at 0.75% in an 8-1 vote, aligning with economists’ forecasts.
- Japan’s inflation rate cooled for the first time in four months, contributing to a revised FY 2026 GDP growth outlook of 1%.
- Bitcoin is currently trading near $89,800, with a low of $88,438 and a high of $90,220 over the past day.
- Trading volume has decreased by nearly 35%, influenced by upcoming crypto options expiry worth $2.3 billion.
- Total BTC futures open interest fell by approximately 1.50%, now at $59.43 billion.
The BOJ’s decision to maintain rates provides stability to global risk assets like Bitcoin amidst mixed economic signals from the US and Japan. Elevated US PCE inflation contrasts with Japan’s slowing inflation, impacting market sentiment.
As Bitcoin hovers around $89,800, the market remains cautious ahead of significant options expirations today that could influence price movements.(Source)
