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Bitcoin 
$109,081 and the broader altcoin market experienced a significant recovery following early sales on Monday. This resurgence was fueled by growing excitement surrounding Donald Trump’s inauguration and a strong demand for TRUMP meme coins. However, investors seem poised to adopt a cautious approach with the Bank of Japan’s anticipated interest rate increase.
Bitcoin and Altcoins Respond to Macro Developments
In the last 24 hours, Bitcoin’s price saw substantial fluctuations, dipping below the $100,000 mark before reaching an all-time high of approximately $110,000. The launch of TRUMP meme coins, supported by Trump’s inauguration, contributed to this volatility. Crypto market analyst Rekt Capital highlighted that for Bitcoin to confirm new all-time highs, the weekly close must remain above $104,740.
The analyst added to the discussion by stating, “If the weekly close falls below the red line, BTC may retract again. However, this pullback might be shallower than the one in mid-December 2024.”
As general crypto market liquidations surged to $1.26 billion, Bitcoin liquidations accounted for only $204 million. This scenario indicates a deeper correction in the altcoin sector following the launches of TRUMP and MELANIA meme coins. Ethereum 
$2,557‘s price, meanwhile, did not meet expectations despite significant ETH purchases by Trump’s DeFi project, World Liberty Financial. The altcoin season index rose above 50, showing signs of recovery.
Will the Bank of Japan Create Obstacles?
The Bank of Japan (BOJ) is expected to implement an interest rate hike on Friday, reaching its highest level in 17 years. This potential increase would reflect the central bank’s resolve to gradually raise the current rate of 0.25% toward a target of around 1%. Following its two-day meeting, the BOJ is anticipated to elevate the short-term policy rate to 0.5%. This move marks the first interest rate hike since July of last year, which led to significant market fluctuations at that time, coinciding with weak US job data.
However, this time, US job data appears strong, and core CPI is showing a decline, suggesting that a major upheaval in Bitcoin and altcoins is not expected.
In light of these market developments, it is crucial for investors to formulate their strategies while considering both local and global macroeconomic factors.
