Japanese Rate Hike Implemented, Renowned Trader and Analyst Bullish Consensus

BlockBeats News, December 19th, the Bank of Japan announced a 25-basis-point interest 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 passed with a unanimous 9-0 vote, in line with market expectations. Following the news, Bitcoin led a rebound in the crypto market, surging over 2% briefly.

Alongside 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 stating that most altcoins have reached the end of their downtrend and that "it's time to start making a watchlist and placing buy orders." However, major coins may still have room for further decline.

Chinese crypto analyst Ban Mu Xia continued his recent bullish view and identified the key resistance level for Bitcoin in the range of $98,600 to $107,000, with $112,500 being 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 trump card policy. The yen will fall to 200 against the dollar, and Bitcoin will rise to one million dollars."

Even the usually "low-key" "BTC OG Insider Whale" agent Garrett Jin immediately made a bullish call: "Bitcoin and ETH will see a rise, with the first target at $106,000 for Bitcoin and $4,500 for Ethereum."