Bitcoin climbed to $66,651.22 following the Bank of Japan's decision to raise interest rates to a 31-year high, marking a 1.5% increase over the past 24 hours. This rise comes as Bitcoin continues its recovery from a low below $60,000 earlier this month. Altcoins such as Stellar's XLM, Injective's INJ, and Uniswap's UNI saw significant gains, rising between 13% and 16%. UNI's surge was bolstered by Standard Chartered's coverage initiation and a long-term price target of $100 by 2030.
In contrast, memecoin SIREN plummeted 21% in 24 hours, driven by a whale offloading 92% of the token's supply. Meanwhile, crypto markets showed renewed risk appetite with a 51% increase in 24-hour trading volume to $207 billion and a 2.4% rise in open interest to $113.41 billion. BTC futures open interest reached 747,000 BTC, indicating a return of leverage and investor willingness to take on risk. Despite some declines in open interest for tokens like TON, BCH, and HBAR, the overall market sentiment appears to be recovering.
Bitcoin Rises Amid Japan Rate Hike; Altcoins XLM, INJ, UNI Surge
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