At press time, Bitcoin was trading at $77,202.63 after a rally of over 21% in the past week, with the Crypto Fear and Greed Index at 73 in the greed zone. The Bank of Japan is preparing financial markets for another interest-rate hike at its policy meeting on September 18th, with overnight-index swaps pricing in approximately 82% probability, up from 23% before the July meeting. Japan’s 10-year government bond yield has risen to around 2.95%, the highest since 1996, while the yen trades near the 160-per-dollar mark, limiting the BOJ’s room to adopt a dovish stance. Analysts warn that as Japanese rates and bond yields normalize, this could reduce demand for U.S. Treasuries and add further pressure on global markets.
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