Bank of Japan raises interest rates by 25 basis points. Bitcoin tops $77,000
The yen declined and BTC rose after the BOJ hiked rates to the highest level in 31 years.
Source: CoinDesk
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DW NOTE
The BOJ hiked 25 basis points to 1.25% — its highest rate in three decades — and the yen promptly fell. That tells you everything about the credibility of tightening when you're still buying trillions in bonds to cap the yield curve. Bitcoin rose to $77,000 not because Japanese rates went up, but because the yen went down.