Bitcoin Rebounds Amid Japan Rate Hike as Hayes Eyes $200 Yen

Bitcoin (BTC) climbed toward $88,000 on Friday following the Bank of Japan’s (BoJ) interest-rate hike to 0.75%, marking the highest levels in three decades and ending Japan’s period of ultra-low rates.

Despite conventional wisdom suggesting higher rates are bearish for risk assets, BTC and U.S. stock futures reacted optimistically, signaling continued market resilience.

Bitcoin price chart via TradingView

Arthur Hayes Sees Bitcoin and Yen Surge

Former BitMEX CEO Arthur Hayes shared bullish expectations for both Bitcoin and the Japanese yen:

“Don’t fight the BOJ: -ve real rates is the explicit policy. $JPY to 200, and $BTC to a milly.”

Source

Meanwhile, Temple 8 Research highlighted a standoff between market expectations and Japan’s economic reality, predicting that rates are unlikely to rise further before 2027 to protect fiscal stimulus and avoid skyrocketing debt service costs.

Bitcoin Lacks a “True Capitulation Event”

On-chain analytics platform Checkonchain noted:

“Bitcoin is currently hammering out a bottom, but the process is far from over.”

Key support sits at $81,000, the cost basis for U.S. spot Bitcoin ETFs, with no “true capitulation event” observed yet. This leaves room for continued volatility despite the recent rebound.

Market Context

• BTC/USD low: $84,390 amid volatility from U.S. inflation data.

• S&P 500 & Nasdaq futures: Rising ahead of the Wall Street open, reflecting bullish risk-asset sentiment.

• Investor sentiment: Mosaic Asset Company noted that fear-driven sentiment and year-end positioning could support a late-year rally.

Bitcoin’s recent movements suggest that buyers are cautiously accumulating, while analysts continue to monitor macro conditions, including global central-bank policies.

See all our insights: Bitcoin World News