Bitcoin falls alongside stocks following Bank of Japan rate hike comments
Bitcoin opens the week in the red as comments from the Bank of Japan and a sharp sell-off in equities markets negatively impact BTC price.
Bitcoin (BTC) price has dropped 6.5% over the last seven days and the downside continued on Sept. 3 as the DOW dropped by 1.2%. The S&P 500 dropped 1.3%, while the Nasdaq Composite index slid 1.8% over the same period. Some traders attribute the downside to statements from the Bank of Japan (BoJ), rekindling recession fears regarding the health of the global economy.
BTC/USD hourly chart. Source: TradingView
According to Bloomberg, the market also fell on Tuesday, Sept. 3, as the Bank of Japan hinted at more interest rate hikes.
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Author: Nancy Lubale
