Bitcoin, Ethereum Technical Analysis: ETH Back Above $1,200 as Bank of Japan Policy Decision Impacts Markets

Ethereum rose back above the $1,200 level on Tuesday, as the dollar rebounded following the latest Bank of Japan (BOJ) policy decision. The bank adjusted its yield curve control, which increased its cap on the 10-year government bond, allowing moves of up to 50 basis points (bps), up from 25 bps. Bitcoin also rose on the news, climbing closer to $17,000

Bitcoin (BTC) moved closer to the $17,000 level on Tuesday, as traders reacted to the latest Bank of Japan policy decision.

BTC/USD surged to a peak of $16,837.65 earlier in today’s session, less than 24 hours after hitting a low of $16,398.14.

In addition to bitcoin, ethereum (ETH) also trended higher on Tuesday, as it once again rose into the $1,200 region.

Following a low of $1,160.38 to start the week, ETH/USD raced to a peak of $1,214.73 earlier in the day.

(by Eliman Dambell)

Bitcoin $66,344.62

-1.09%

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