The market expects the Bank of Japan to raise interest rates in January with a 90% probability, which may undermine the upward momentum of cryptocurrencies

Odaily News Investors are looking ahead to Trump's inauguration on January 20, which could be a key catalyst for Bitcoin and cryptocurrency prices. However, on January 24, the Bank of Japan may raise interest rates. According to a chart shared by analyst Michael Kramer on the X platform, the market currently expects a 90% probability of a rate hike on January 24. Previously, the Bank of Japan's rate hike caused chaos in traditional and digital asset markets. This was a key catalyst for the reversal of the yen carry trade in early August, causing Bitcoin to plummet to $49,000. Traders may be preparing for another sell-off this time. (CoinDesk)