Bitcoin (BTC) continues to trade above $34,000 after the Bank of Japan (BOJ) softened its grip on the “yield curve control” (YCC) program, counteracting the Federal Reserve’s liquidity tightening. At press time, the leading cryptocurrency by market value changed hands at $34,300, representing a 0.18% drop on a 24-hour basis, CoinDesk data show. On Tuesday, the central bank kept the short-term policy rate steady at -0.1%, continuing its negative interest rate policy. However, the BOJ said it would consider the 1% upper bound for the 10-year government bond yield as a “reference” rather than a hard cap. Bitcoin is known to track changes in global fiat liquidity.
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