Bank of Japan Governor Ueda hints at more rate hikes; Bitcoin (BTC) price drops.

“The initial positive market reaction (to impending Fed rate cuts) is justified because investors believe that if money is cheaper, fixed supply fiat dollar-priced assets should rise,” Arthur Hayes, co-founder and former CEO of cryptocurrency exchange BitMEX. and chief investment officer at Maelstrom, wrote in a recent blog post. “I agree; however… we forget that these upcoming anticipated interest rate cuts by the Fed, BOE and ECB are narrowing the interest rate differential between these currencies and the yen”.