Krypto para Markets rebounded after comments from the Bank of Japan’s (BOJ) deputy governor reduced the likelihood of another rate hike in the near term.
Crypto Markets Recover as BOJ Vice President Prevents Rate Hike in the Near Term
Despite the general recovery in the market, Ethereum (ETH) while continuing to lag behind, Bitcoin (BTC) It continues to deliver strong performance with significant option purchases observed for December and March maturities.
The cryptocurrency market has seen a notable recovery after Bank of Japan Deputy Governor Shinichi Uchida suggested that the central bank may not raise interest rates any further in the near future.
Uchida’s comments hinting at a potential pause in monetary tightening provided support to market sentiment.
Despite the market-wide recovery, Ethereum (ETH) has struggled to keep pace. ETH’s performance remains weaker than Bitcoin (BTC), which has shown resilience and strength in recent trading.
QCP Capital reports that Bitcoin continues to attract bullish interest. The firm highlights a significant increase in options purchases for Bitcoin, particularly around expiration dates in December and March.
This bullish trend is supported by major funds renewing their long-term call positions in September, an indication of confidence in Bitcoin’s future performance.
The surge in Bitcoin-related call options and strategic adjustments by major funds reflect strong belief in BTC’s continued upward trajectory, even as Ethereum faces challenges.
The disparity in performance between BTC and ETH underscores current market dynamics and investor sentiment.
*This is not investment advice.
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Source: https://www.bitcoinsistemi.com/japonya-merkez-bankasi-boj-baskan-yardimcisindan-faiz-mesaji-geldi-piyasalar-hareketlendi/
