Driven by US President Donald Trump's call to lower oil prices and interest rates, US stocks continued to rise on Thursday (1/23), with the S&P 500 index reaching a new all-time high. The Bank of Japan (BOJ) will announce its latest interest rate decision today (1/24), and the market expects the BOJ to raise rates this time. Bitcoin surged to $106K last night, and Cynthia Lummis hinted at "₿ig things are coming", but it was unrelated to Bitcoin reserves, and Bitcoin fell back to $104K.
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ToggleTrump demands rate cuts, S&P 500 hits new high
On Thursday, Trump delivered a video speech at the World Economic Forum (WEF) in Davos, Switzerland, stating that he will demand that Saudi ARAMCOand other OPEC countries "lower the cost of oil", and reiterated that he will use tariffs to bring manufacturing back to the US. He will also demand that the Federal Reserve immediately lower interest rates. In addition, Trump said he has signed executive actions related to cryptocurrencies and AI, which will make the US the world center for AI and cryptocurrencies.
The Federal Reserve will hold a two-day interest rate decision meeting next Wednesday (1/29). According to the CME FedWatch index, the market generally expects the interest rate to remain unchanged at 4.25-4.5%, but the expected rate cut month has been moved forward from June to May.
Trump's remarks have boosted US stocks to new highs, with the S&P 500 index closing above 6,100 points, setting a new record high.
BOJ expected to announce rate hike today
The BOJ will announce its latest interest rate decision today (1/24), and BOJ Governor Kazuo Ueda will hold a post-meeting press conference at 2:30 PM (Taiwan time).
According to a Bloomberg survey, nearly three-quarters of BOJ watchers expect the BOJ to raise rates this time. The USD/JPY exchange rate is currently hovering around 156, whether it will trigger another round of JPY carry trade unwinding, affecting the optimistic sentiment of Trump trades like BTC?
(Will the BOJ rate hike affect the optimistic sentiment of Trump trades like BTC?)
Bitcoin reserves expectation falls short, BTC falls to 104K
Bitcoin surged to $106K last night, after US Senator Cynthia Lummis, a major proponent of a US national Bitcoin reserve, hinted at "₿ig things are coming".
However, Lummis only confirmed that she will serve as the chair of the new Senate Banking Committee's Digital Assets Subcommittee, which was a widely expected move. Unrelated to Bitcoin reserves, Bitcoin fell back to $104K.
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