NewsSOS
Ethereum sold off following a decision by Japan to raise interest rates, with the move rattling risk assets broadly and pressuring $ETH alongside wider markets.
The question now, according to FXEmpire, is whether the token can sustain any recovery in the face of that macro headwind.
Japan's Rate Move Hits Risk Assets Interest rate increases from the Bank of Japan have historically tightened global liquidity conditions, as yen carry trades unwind and capital flows shift away from higher-risk positions.
Crypto markets, which trade continuously and often act as a first mover in risk-off episodes, tend to register that pressure quickly.
Keep reading