Bitcoin Recovers to $78,000 Amid Japan's Rate Hike

Bitcoin (BTC) has rebounded to around $78,000. Despite the Bank of Japan (BOJ) raising rates, the yen weakened, preventing concerns over unwinding yen carry trades from pressuring prices. Glassnode's on-chain metrics showed Bitcoin surpassing the average purchase price of market participants, signaling a return to profit territory. However, increased inflows into exchanges have made the next key level at $80,000-$82,000 crucial for determining direction.