Macroeconomic policies in the U.S. and Japan have triggered bullish moves in Bitcoin.
Bitcoin gained over 11% in less than one week.
The Bank of Japan maintained an interest rate of 0.25%.
Macroeconomic policies in the U.S. and Japan have triggered Bitcoin bullish moves. The orange coin’s price jumped this week after interest rate decisions by the Federal Reserve and the Bank of Japan. Since the U.S. Fed’s interest rate cut decision, Bitcoin gained over 11% by the end of the week, pushing the price above $62,000 for the first time in September.
On September 18, the U.S. Federal Reserve lowered its interest rate by 50 basis points, the first cut since the COVID-19 pandemic. This move, aimed at curbing rising inflation, triggered a surge in Bitcoin’s price, with BTC gaining 4.26% last Wednesday.
Two days after the Fed’s decision, the Bank of Japan (BOJ) announced it was maintaining its interest rate at 0.25%. The BOJ’s governor noted the central bank wants to see the effects of global economic uncertainties before making any changes.
Bitcoin Responds with Further Gains
Bitcoin responded to the BOJ’s interest rate decision with more upward mov…
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