With Bitcoin enjoying another green day following the recent Fed pivot, all eyes turned to the Bank of Japan (BOJ). As expected, the BOJ kept its benchmark short-term interest rates unchanged for September. This decision came with heightened attention, as the last time the BOJ unexpectedly raised rates, Bitcoin plummeted from $66,000 to $49,000 in just a week—underscoring the critical role macroeconomic shifts play for Bitcoin traders.
While Bitcoin remains comfortably above its $63,000 support level, Ethereum, the second-largest crypto, is facing significant resistance at $2,500. This is a critical threshold for the entire altcoin market, as a breakthrough could signal the next upward move. Meanwhile, ETH/BTC remains at its April 2021 level of 0.039 BTC per ETH, continuing to struggle with breaking higher.
On the other hand, Solana-based prediction market DRIFT protocol has raised 25 million dollars in funding from led by Multilcoin capital. Amid the ongoing US presidential election campaign, market has already seen volumes more than 1 billion dollars – prediction markets could be one of the hottest avenues currently in DeFi markets.
