After Bitcoin (BTC) increased by nearly 3% today, exceeding 71 thousand dollars, and Ethereum exceeded 4 thousand dollars, all eyes turned to the cause.
Bitcoin price broke a record with the sharp rise it experienced in the past hours. over 71 thousand dollars output. In parallel, Ethereum $4,000 exceeded its levels. cryptocurrency market in two giants The increases experienced generally greened the market.
Major altcoins of the cryptocurrency market BNB in the last 24 hours 7%, Solana whereas 8% showed an upward performance.
In addition, according to CoinGlass data, the rise in Bitcoin within a few hours has caused bears in the cryptocurrency market. for 50 million dollars It caused him to suffer near loss.
Why is Bitcoin rising?
It is estimated that the price of Bitcoin has increased due to the Bank of Japan (BOJ). According to the news by Reuters, it is seen as the last bastion of low interest rates. BOJ may fall soon Following the news, stocks fell slightly in the Asian market. However, Bitcoin price higher price in Asia traded.
Japan, one of Asia’s largest stock exchanges Nikkei and Australia’s ASX up 2% today experienced a decline. Bloomberg is BOJ on 18-19 March He thinks he can raise the interest rate above zero.
This situation BOJ from 2007 It shows that it will increase interest rates for the first time since then.
Bitcoin price also ETFs Its effect continues. In Spot Bitcoin ETFs Have a positive Friday both in price and in the overall market. It was reflected positively.
According to CoinGecko data, Bitcoin, at the time of writing from $71,300 is being traded.