Viewpoint: The Bank of Japan's dovish signals may be a key boost for this round of Bitcoin rebound

The Governor of the Bank of Japan, Kazuo Ueda, has signaled a dovish stance, indicating a more cautious approach amid the uncertain impact of the Iran war on the Japanese economy, which has provided support for Bitcoin to break through $74,000.

In recent years, the Bank of Japan's interest rate hikes have repeatedly caused turbulence in the crypto market. On August 5, 2024, an unexpected rate hike by the Bank of Japan triggered the unwinding of yen arbitrage trades, causing Bitcoin to drop from $64,000 to $49,000 within 48 hours. On the 28th of this month, the Bank of Japan will hold a monetary policy meeting.