On February 6, news reports indicated that amid the tightening global macro environment, the Bank of Japan (BOJ) has once again signaled a hawkish stance, leading to a rapid increase in market expectations for an early rate hike. This move is believed to potentially further suppress high-risk asset performance and adds new uncertainties to the already pressured cryptocurrency market.
According to Bloomberg, BOJ Board Member Eiji Hoshi stated that in order to complete the process of normalizing monetary policy, it is necessary to continue raising the benchmark interest rate to address inflationary pressures. He emphasized that keeping inflation near the 2% target remains a core task. This statement reinforced market expectations of a tightening stance by the BOJ and sparked speculation about the possibility of another rate hike as early as April.
The overnight index swap (OIS) market pricing shows that investors now believe there is approximately a 74% chance of the BOJ raising rates in April. The next rate decision will be announced on March 19. The rate hike in December last year caused a chain reaction in global risk assets, and now, signaling further tightening again, is seen as one of the macro factors unfavorable to the crypto market.
Meanwhile, Bitcoin experienced a significant correction, and the stock prices of listed companies holding large amounts of digital assets also suffered heavy losses. MicroStrategy’s (MSTR) stock price has fallen sharply from its high in July last year to around $100, hitting a new low for the phase. BitMine is also facing substantial unrealized losses, with ongoing pressure on its book value.
Since the beginning of this year, Bitcoin’s price has declined by nearly 20%. Additionally, the news of Trump nominating Kevin Warsh as the new Federal Reserve Chair is interpreted as a potential move to reduce the US balance sheet, further tightening liquidity conditions.
With multiple macro factors converging, the crypto market is facing a more complex external environment. For investors concerned with Bitcoin price trends, macro interest rate changes, and corporate holding risks, the BOJ’s policy path may become an important variable influencing market sentiment.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
Bitcoin ETF Inflows Turn Positive for the Year as All Flow Metrics Hit Green
Gate News message, April 24 — Bitcoin spot ETFs are gaining momentum as all flow metrics tracked by Bloomberg turned positive for the first time in months, according to Bloomberg Senior ETF Analyst Eric Balchunas. The cumulative one-day inflows for all 12 spot bitcoin funds reached over $335
GateNews1h ago
Bitcoin Short-Term Holders Discount Narrows to -5.7%, SOPR Signals Recovery
Gate News message, April 24 — Bitcoin short-term holders (STH) are showing signs of recovery as their discount narrowed from -21.6% to -5.7%, according to on-chain analyst Axel Adler Jr. The STH-SOPR (Spent Output Profit Ratio) 7-day moving average has climbed back above 1.0, indicating that short-t
GateNews1h ago
Bitcoin Mining Weekly Digest: TeraWulf Completes $1.035B Equity Offering
Gate News message, April 24 — During the week of April 11-17, 2026, Bitcoin's network-wide average hash rate stood at 935 EH/s, down 4.43% from the previous week's 978.9 EH/s, with peaks reaching 1,064 EH/s and lows of 815 EH/s. Bitcoin's average price was $76,048.3, up 3.9% from the prior week's $6
GateNews1h ago
ARK Invest's Bitcoin 'Conviction Buyers' Holdings Surge 69% in Q1, Hitting Highest Level Since 2020
Gate News message, April 24 — ARK Invest reported that its "Conviction Buyers" bitcoin holdings surged from 2.13 million BTC to 3.6 million BTC in the first quarter of 2026, an increase of 69% and the highest level since 2020. The growth occurred despite bitcoin's price declining 22% during the
GateNews2h ago
Largest Bank in Brazil Moves to Invest in Bitcoin Mining
Itau Unibanco, through its VC arm Itau Ventures, has made an undisclosed investment in Minter, a company that installs mobile data centers and bitcoin mining operations across Brazil. Minter’s approach allows it to take advantage of surplus energy that would otherwise be wasted.
Key Takeaways:
It
Coinpedia3h ago
Bitcoin ETF Flows Turn Positive for Year, Bloomberg Data Shows
Bitcoin ETFs are gaining ground as all flow metrics tracked by Bloomberg turned positive for the first time in months, according to Bloomberg Senior ETF Analyst Eric Balchunas. Ben Slavin, global head of ETFs at BNY Asset Servicing—which services 80% of the crypto ETF market—confirmed the trend in a
CryptoFrontier3h ago
