The Bank of Japan raised its benchmark interest rate from -0.1% to 0-0.1%, in line with market expectations. This was the first rate hike since 2007, and the eight-year era of negative interest rates officially ended.
Throughout the day on March 19, the crypto market was very weak, and even the SOL ecosystem, which had been strong in the previous two days, experienced a sharp drop.
Judging from the news, the direct reason is the weakening purchasing power of Wall Street ETF institutions, which even saw a large outflow on March 18. The second-ranked ETF institution, Fidelity Group, only received less than $6 million in inflows, while Grayscale Funds had an outflow of $640 million, and the entire market had an outflow of $150 million.
Recently, the rise of BTC is driven by the fomo sentiment of ETFs. As long as the data shows that Wall Street institutions buy less or even start selling, the market will inevitably fall sharply. This is because the secondary market is hyped on emotions and expectations.
Although the data of one day cannot fully explain anything, the data of the two days before March 18 shows that the inflow of BTC is not optimistic. The current situation is that Wall Street has completely controlled and even manipulated the price of BTC. As long as the purchase volume is increased, the market will rise sharply. As long as the news is released to sell some, the market will fall sharply.
In this round of rising market, many crypto institutions that went bankrupt in 2022 took advantage of the situation to sell their chips, and many projects incubated by institutions also launched token listing plans at high prices. Many projects that have been gradually unblocked are also constantly cashing out, and the scale of the Bitcoin and Ethereum derivatives market has reached tens of billions of dollars. The interests involved are much higher than those in the Bitcoin spot market, and manipulating the price of BTC is more beneficial to Wall Street.
However, the market will not turn from an extreme bullish breakout to a bearish one, and the price will not be sold off directly from a high point to form a bear market, but will go through a high distribution range. During this period, there are still many structures that lure more investors to take over and then slowly sell off. Therefore, the recent adjustment will be a huge opportunity to buy spot. The Bank of Japan raised interest rates for the first time in 17 years, and the era of negative interest rates officially ended.
The Bank of Japan raised its benchmark interest rate from -0.1% to 0-0.1%, in line with market expectations. This was the first rate hike since 2007, and the eight-year era of negative interest rates officially ended.
Throughout the day on March 19, the crypto market was very weak, and even the SOL ecosystem, which had been strong in the previous two days, experienced a sharp drop.
Judging from the news, the direct reason is the weakening purchasing power of Wall Street ETF institutions, which even saw a large outflow on March 18. The second-ranked ETF institution, Fidelity Group, only received less than $6 million in inflows, while Grayscale Funds had an outflow of $640 million, and the entire market had an outflow of $150 million.
Recently, the rise of BTC is driven by the fomo sentiment of ETFs. As long as the data shows that Wall Street institutions buy less or even start selling, the market will inevitably fall sharply. This is because the secondary market is hyped on emotions and expectations.
Although the data of one day cannot fully explain anything, the data of the two days before March 18 shows that the inflow of BTC is not optimistic. The current situation is that Wall Street has completely controlled and even manipulated the price of BTC. As long as the purchase volume is increased, the market will rise sharply. As long as the news is released to sell some, the market will fall sharply.
In this round of rising market, many crypto institutions that went bankrupt in 2022 took advantage of the situation to sell their chips, and many projects incubated by institutions also launched token listing plans at high prices. Many projects that have been gradually unblocked are also constantly cashing out, and the scale of the Bitcoin and Ethereum derivatives market has reached tens of billions of dollars. The interests involved are much higher than those in the Bitcoin spot market, and manipulating the price of BTC is more beneficial to Wall Street.
However, the market will not turn from an extreme bullish breakthrough to bearish, and prices will not form a bear market by a direct large-scale sell-off from a high point, but will move in a high-level distribution range. During this period, there are many structures that lure retail investors to take over and then slowly sell out. Therefore, the recent adjustments will be a huge opportunity to do contracts.#BTC.😉. #ether.fi #ETH✅ $BTC $ETH $BNB 
