BOJ Rate Hike Looms: Will it Dampen Bitcoin's Rally?
The price of Bitcoin (BTC) has surged by over 21% in the past week, reaching $77,202.63 at press time.
This rally has sparked fresh sentiment in the market, with the Crypto Fear and Greed Index sitting at 73, indicating a greed zone.
However, some analysts are warning that the Bank of Japan's (BOJ) upcoming interest-rate hike in September could harm Bitcoin's current rally.
The BOJ has been increasing bets on a rate hike, with overnight-index swaps pricing in an 82% probability, up from 23% before the July meeting.