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On January 24th, as expected, the Bank of Japan raised its target interest rate by 25 basis points, raising it from 0.25% to 0.50%, the largest increase since 2007 and reaching a new high since October 2008. Since the resumption of interest rate hikes in March last year, the Bank of Japan has raised interest rates three times in less than 12 months.
The main impact of the Bank of Japan's interest rate hike includes raising market interest rates, increasing loan costs, suppressing borrowing demand, and potentially leading to an economic slowdown. Simultaneously pushing up the Japanese yen exchange rate, attracting capital inflows but potentially reducing export competitiveness. The intensification of stock market volatility, the decline in corporate profit expectations, and concerns about global economic risks have led to a decline in stock prices. Bond yields rise, investor interest expenses increase, and bond prices fall. For the banking industry, increasing loan costs to compress profit margins and intensifying competition have an impact on stability. Finally, the real estate market is under pressure, with a decrease in demand for home purchases and a lack of investor confidence.
Next, let's take a look at the technical aspect:
BTC Technical Analysis:
Last week, there were clear signs of a double top at the closing line, breaking through 110000 and falling back to the support of the double top neck line at 99000. After the formation of the daily double bottom, it did not fall below it again. Currently, it is oscillating in the range of 99000-108000, and it is highly likely that it will take a break and watch the performance of the younger brother.
ETH Technical Analysis:
The weekly track around 3000 has stabilized, while the daily track has formed at the top and shoulders. After four hours, the track has not broken yet. Today, it has been stretched from 3200 to 3400. Currently, the probability of a rebound is very high, and 3900 is just around the corner. How can we catch up with this wealth train?
How should we grasp and respond to the volatile market situation in the second half of the year? Teacher Zhao Yun, who has 8 years of practical trading experience in the cryptocurrency industry, will provide a detailed breakdown for everyone. Welcome to the live broadcast room to check in!
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Disclaimer: The above content only represents the author's personal opinion and is for communication and sharing purposes only. It does not represent AICoin's position or viewpoint and does not constitute any investment advice. Based on this investment, there may be external contacts, which have nothing to do with AICoin, and the consequences shall be borne by oneself.