BTC rises 1.5% in 24 hours as derivatives data signals renewed risk appetite following Japan’s monetary policy shift.
Bitcoin climbed above $66,500 after the Bank of Japan raised interest rates to a 31-year high, pushing the price up from around $65,600. The move marks a 1.5% gain over the past 24 hours, extending a recovery from a June 5 low below $60,000.
Derivatives markets showed increased activity, with rising trading volumes, open interest, and short liquidations. Funding rates and implied volatility suggest a shift toward a more balanced market sentiment, reducing extreme fear.
Altcoins outperformed, with Stellar’s XLM, Injective’s INJ, and Uniswap’s UNI rising 13% to 16%. UNI’s gains followed Standard Chartered’s initiation of coverage and a $100 long-term price target for 2030.