Follow up to the hour updates on what is happening in crypto today, December 19. Market movements, crypto news, and more!
Author
Jai Pratap
Author
Jai Pratap
Part of the Team Since
Jun 2023
About Author
Jai serves as the Asia Desk Editor for Cryptonews.com, where he leads a diverse team of international reporters. Jai has over five years of experience covering the web3 industry.
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Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
The Bank of Japan raised its short-term policy rate by 25 basis points to 0.75%, highest level in the last 30 years, a unanimous move aligned with market expectations, while signaling that overall monetary conditions remain accommodative. Policymakers reiterated that real rates will stay at exceptionally low levels and further hikes will depend on improving inflation and economic trends. Despite the modest tightening, crypto markets continued their decline, with Bitcoin briefly slipping below the $86,000 mark and Ethereum hovering near $2,800. Sector-wise, the AI token complex led losses with a 5.34 percent drop, while heavy declines were also recorded across CeFi, Layer 1, DeFi, PayFi, Layer 2, and Meme segments. A handful of tokens bucked the trend, including Zcash, Beldex, and Bitcoin Cash.
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Jai serves as the Asia Desk Editor for Cryptonews.com, where he leads a diverse team of international reporters. Jai has over five years of experience covering the web3 industry.
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