Bitcoin, Ethereum, Dogecoin Spike After Bank Of Japan Pivot: Trader Says This Could Be ‘Massive’ Trigger For Relief Run – Bitcoin (BTC/USD), Ethereum (ETH/USD), Dogecoin (DOGE/USD)

Major Coin Was Green Wednesday Night As Global Cryptocurrency Market capitalization rose 2.7% to $814.4 billion at 7:28 pm ET.

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Important reasons: Bitcoin and Ethereum tracked riskier assets higher on Wednesday. The S&P 500 and Nasdaq futures are each up 0.3% at the time of writing.

on tuesday, Bank of Japan It stunned the market by adjusting its yield curve control policy by extending the deal from 0.25% to 0.5% for a 10-year yield target (positive or negative). potential impact in the world.

The Dollar Index, a measure of the dollar’s strength against a basket of six global currencies, was down 0.7% at 103.97 at the time of writing.

Meanwhile, the Japanese yen rose to a four-month high against the dollar. The US unit fell 3.9% against the yen during the day, according to Reuters.

Bitcoin is rising as the dollar falls following the BOJ yield pivot, he said. Edward MoyaSenior Market Analyst Oanda.

Bitcoins rally is somewhat less impressive given the reaction across other asset classes. Crypto traders are left wondering what the next big crypto domino will be, or if there is clearer guidance on the regulatory side. It remains in wait-and-see mode as to whether it will get in, analysts said in a note Benzinga saw.

Sam Bankman-FriedFormer CEO of bankrupt cryptocurrency exchange FTXbecomes extradited to the United States on Wednesday, officials of Bahamas Department of Correctional Services confirmed.

Michael van de Poppe He said the market has already been in bearish territory for 19 months. Solana (SOL) and polygon (MATIC) cycle.

“First HF [high low] Check with HTF [higher-time frame] It will be a big trigger for relief efforts,” Van de Poppe said on Twitter.

In Ethereum, $1,190 will be a good level for longs as traders make new lows after highs, he said.

trader Justin Bennett He said it might be time to throttle bitcoin shorts on Wednesday.

santimento said coin Barry Silbert– owned digital currency group (DCG) has fallen sharply in recent days. The market intelligence platform gave the following examples: ethereum classic (etc), flow (flow), and Polka dot (DOT) is an example of such a digital asset.

platform citation analyst Will Clemente I asked if the recent aggressive sale of a particular coin has caused speculators to wonder if the sale “originates” in the DCG itself.

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