Bitcoin Price Steady on Bank of Japan Interest Rate Decision, as Fed Speech Looms
Bitcoin's price remained steady following the Bank of Japan's unanimous decision to keep its key interest rate unchanged at 0.5%. Traders are now anticipating insights from Federal Reserve Chairman Jerome Powell, who is expected to speak about potential US interest rate changes. As of the latest reports, Bitcoin's price stands at approximately $83,765, marking a 1.7% increase for the day, although trading volume has been noticeably lower than previous weeks, at around $25 billion. The Crypto Fear & Greed Index has also shifted, indicating a sense of 'Fear' among traders, compared to its recent 'Neutral' state. Amidst these developments, there are speculations regarding the US government's interest in accumulating Bitcoin, with a White House official expressing intentions to acquire significant amounts of the cryptocurrency. Overall, the market is closely monitoring upcoming policies and statements from major financial institutions.
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