Major coins were in the green like the global on Wednesday night cryptocurrency The market cap rose 2.7% to $814.4 billion as of 7:28 p.m. EST.
| coin | 24 hours | 7 days | Price |
|---|---|---|---|
| Bitcoin BTC/USD | 2.5% | -5% | $16,890.90 |
| ether ETH/USD | 4.2% | -7.9% | $1,217.33 |
| Dogecoins DOGE/USD | 3.55% | -17.7% | $0.07 |
| cryptocurrency | 24-hour % change (+/-) | Price |
|---|---|---|
| Trust wallet token (TWT) | +8.4% | $1.60 |
| OKB (OKB) | +6.2% | $22.68 |
| kava (kava) | +6% | $0.72 |
See also: 11 Best Cryptocurrency Brokers in December 2022
Why it matters: Bitcoin and Ethereum tracked risky assets higher on Wednesday. The S&P 500 and Nasdaq futures are each up 0.3% as of this writing.
On Tuesday the Bank of Japan surprised markets by adjusting its yield curve control policy by widening trading on its 10-year yield target (plus or minus) 0.25% to 0.5% – a move that will have possible consequences worldwide.
The dollar index, a measure of the greenback’s strength against a basket of six global currencies, was down 0.7% to 103.97 at the time of writing.
On the other hand, the Japanese yen rose to a four-month high against the dollar. According to Reuters, the US unit lost 3.9% against the yen on the day.
“Bitcoin rallies as dollar falls after Bank of Japan yield swing,” he said Edward Moyaa senior market analyst OANDA.
“Given the reaction in other asset classes, Bitcoin’s rally is somewhat unimpressive as crypto traders remain in wait mode as to what will be the next big crypto domino to fall, or if we get clearer guidance on the regulatory front,” , the analyst said in a note seen by Benzinga.
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