Crypto Markets Today: Bitcoin rallies on Japan rate hike as futures traders pile in

BTC rose to $88,000 after the Bank of Japan raised interest rates. The increase, seen as a potential risk-off trigger, failed to spark a flight into the yen. What to know : BTC rose to $88,000 from $85,200 in five hours after the BOJ hiked rates The increase had been seen as a potential risk-off trigger, but failed to spark a flight into the yen. Open interest rose faster than price, and funding rates flipped decisively positive, signaling fresh leveraged longs rather than short covering. SOL and XRP saw declining open interest and altcoin-season indicators hit new lows, while ETH outperformed BTC despite broader weakness.