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You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/boj-president-considers-revising-interest-rate-hike-if-markets-destabilize/" data-wpel-link="internal">BOJ President Considers Revising Interest Rate Hike if Markets Destabilize</a> 
Bank of Japan (BOJ) President Shinichi Uchida stated they might reconsider last week’s <a href="https://finance.coin-turk.com/" data-wpel-link="exclude">interest rate</a> hike decision if markets experience significant instability. This announcement caused the Nikkei 225 Index to rise by 2.5% on Wednesday, surpassing the 35,000 level. At the same time, the <a href="https://en.coin-turk.com/cryptocurrency-market-faces-downturn-due-to-iran-israel-tensions/" data-wpel-link="internal">cryptocurrency market</a> gained strength, and Bitcoin (BTC) rose by 2%, nearing the $57,000 level. 
<h2 style="text-align: justify" id="strong-nikkei-s-rise-and-boj-s-impact-strong">Nikkei’s Rise and BOJ’s Impact</h2> 
Nikkei surpassed the 35,000 level today, almost fully recovering from the “Black Monday” crash on August 5. Last week, BOJ announced a 25 basis point interest rate hike. This decision led to the unwinding of yen carry trades and sent shockwaves through global markets, increasing recession risks in the US. 
Uchida’s intervention was seen as reassurance by the markets, and this flexible approach helped reduce uncertainty. Saxo Markets forex strategy head Charu Chanana said, “Uchida-san’s comments may bring temporary stability to the Japanese stock market but cannot shift the focus from US economic <a href="https://newslinker.co/how-does-artificial-intelligence-work/" target="_blank" rel="noopener" data-wpel-link="exclude">data</a> and recession concerns.” 
<h2 style="text-align: justify" id="strong-cryptocurrency-market-continues-to-recover-strong">Cryptocurrency Market Continues to Recover</h2> 
Cryptocurrency market sharply recovered on Tuesday. Bitcoin and altcoins jumped over 10% following Monday’s declines. The altcoin market saw a stronger recovery, with Ethereum (ETH) and Solana (SOL) rising over 15%. Bitcoin is trading just below the $57,000 threshold, up 3% at the time of writing. 
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter wp-image-377581" src="https://coin-turk.com/wp-content/uploads/2024/08/Ki-Young-Ju-Bitcoin-Altcoin-Kripto-Para.png" alt="" width="563" height="583"> 
Market analysts suggest Bitcoin’s price rally could push it above $60,000 as global stock markets recover. CryptoQuant analyst Ki Young Ju wrote that the largest cryptocurrency could reach a new peak within a year as long as it stays above $45,000. 
Meanwhile, US spot Ethereum ETFs led by BlackRock’s ETHA saw strong inflows. This indicates that institutional investors’ interest in ETH continues despite the recent drop. Ethereum’s recovery and increased institutional investments signal ongoing confidence in the cryptocurrency market. 
<h5>The post first appeared on COINTURK NEWS: <a href="https://en.coin-turk.com/boj-president-considers-revising-interest-rate-hike-if-markets-destabilize/" data-wpel-link="internal">BOJ President Considers Revising Interest Rate Hike if Markets Destabilize</a></h5>
The post <a href="https://en.coin-turk.com/boj-president-considers-revising-interest-rate-hike-if-markets-destabilize/" data-wpel-link="internal">BOJ President Considers Revising Interest Rate Hike if Markets Destabilize</a> appeared first on <a href="https://en.coin-turk.com" data-wpel-link="internal">COINTURK NEWS</a>.

BOJ President Considers Revising Interest Rate Hike if Markets Destabilize

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