Bitcoin rallies after Japan rate increase with XLM, INJ, UNI advancing
Stellar’s XLM, Injective’s INJ and Uniswap’s UNI ranked among the best performers in the 100 biggest cryptocurrencies by market capitalization.
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Summary
- Bitcoin climbed above $66,500 after the Bank of Japan raised interest rates, lifting the token about 1.5% in 24 hours.
- Derivatives data show risk appetite returning, with crypto trading volumes, open interest and liquidations of short positions all rising, and funding rates and implied volatility suggesting a more balanced, less fearful market.
- Sentiment has turned negative on Avalanche and its AVAX token as attention shifts to rivals like Solana and Sui, though some analysts see the pessimism as a potential contrarian signal.
