Key Takeaways: Bitcoin and major altcoins rallied after the Bank of Japan raised interest rates, with Stellar's XLM rising 22% this week on ecosystem developments.
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Bitcoin rallies after BoJ rate hike as XLM jumps 22% in a week
Bitcoin and major altcoins rallied after the Bank of Japan raised interest rates, with Stellar's XLM rising 22% this week on ecosystem developments.
Bitcoin rose after the Bank of Japan's June 16 rate increase, with XLM, INJ and UNI leading gains among the top 100 cryptocurrencies by market capitalization.
"The coming bull market will be slower and less volatile than in the past," Matt Hougan, chief investment officer at Bitwise Asset Management, said. "Interest from investment advisers and institutional capital is as high as it's ever been."
Stellar's XLM rose 4.5% in the past 24 hours to trade above $0.23, extending its weekly gain to 22%. Futures open interest climbed nearly 10% to $271.5 million, with funding rates turning positive at 0.0065%, Coinglass data shows. The long-to-short ratio has also flipped bullish, indicating traders are adding fresh long positions.
XLM has reclaimed the 38.2% Fibonacci retracement level at $0.237, which now serves as an immediate pivot zone. A daily close above resistance at $0.260 could open the path toward $0.298, while support sits at $0.218 and $0.200, reinforced by key moving averages clustered between $0.18 and $0.20.
Stellar's ecosystem expansion fuels momentum
The network recently enabled access to tokenized US Treasuries and AAA-rated collateralized loan obligations via Sushi, broadening institutional exposure to blockchain-based yield products. Separately, Zebec Network launched an enterprise payroll solution on Stellar, allowing businesses to stream earnings by the second and convert funds into fiat through Mastercard-linked cards.
Macro backdrop shifts as BoJ tightens
The Bank of Japan's rate increase marks a shift in global monetary policy, driving capital flows into Bitcoin as a hedge against currency debasement, according to market participants. The move comes as the yen weakened to 160.80 against the dollar, its lowest level since July 2024, with traders eyeing the 161.95 threshold as the next potential intervention battleground.
For Bitcoin, the rally following the BoJ decision suggests the market is increasingly viewing the largest cryptocurrency as a macro hedge. However, Hougan cautioned that any recovery may take longer than traders expect, as Wall Street attention shifts toward real-world applications like tokenization and artificial intelligence rather than pure digital assets.
This article is for informational purposes only and does not constitute investment advice.
[1] Bitcoin rallies after Japan rate increase with XLM, INJ, UNI advancing[2] Treasurys, stock futures rebound on US.-Iran agreement, Fed reaction[3] Next bull run will be slower, less volatile as investors' crypto appetite evolves, Bitwise CIO says[4] Traders See 40-Year Yen Low as Next Intervention Battleground[5] Is XLM price heading for a breakout as Stellar rally tops 22% this week?
