Japan Implements Interest Rate Hike, Renowned Traders and Analysts Remain Bullish

BlockBeats News, December 19, The Bank of Japan announced a 25 basis point rate hike on Friday, raising the unsecured overnight call rate to 0.75%, the highest level since 1995. The decision was announced after a two-day policy meeting and was unanimously approved with a 9:0 vote, fully in line with market expectations. Following the news, bitcoin led a rebound in the crypto market, briefly rising more than 2%.

With the market rebound, many well-known analysts and traders immediately expressed bullish views, bringing a long-awaited improvement in market sentiment.

Trader Eugene Ng Ah Sio, who had been silent for nearly a month, posted on his personal channel that most altcoins are nearing the end of their decline, stating, "It's time to start making a watchlist and placing buy orders." However, major coins may still have room to fall.

Chinese crypto analyst Banmuxia continued his recent bullish outlook, suggesting that bitcoin's key resistance lies in the $98,600 to $107,000 range, with $112,500 as a strong resistance level.

Arthur Hayes once again made a bold statement: "Don't go against the Bank of Japan, negative real interest rates are their explicit policy. The yen will fall to 200 against the US dollar, and bitcoin will rise to one million dollars."

Even the usually "low-key and taciturn" "BTC OG insider whale" representative Garrett Jin was quick to post a call: "Bitcoin and ETH are about to surge, first targets: bitcoin $106,000, ethereum $4,500."