Bitcoin rallies after Japan rate increase with XLM, INJ, UNI advancing
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- Bitcoin rose above $66,500 after the Bank of Japan lifted rates to a 31-year high, gaining 1.5% in 24 hours and continuing a recovery from a June 5 low below $60,000.
- Stellar's XLM, Injective's INJ and Uniswap's UNI each gained 13-16%, ranking among the top 100's best performers, with UNI's jump following Standard Chartered's initiation with a $100 2030 price target.
- Memecoin SIREN collapsed another 21% in 24 hours, extending a 77% month-to-date loss as blockchain trackers flagged a single whale dumping 92% of the token's supply.
- Crypto derivatives flashed renewed risk appetite: 24-hour trading volume jumped 51% to $207 billion, open interest rose 2.4% to $113.41 billion, and short-side liquidations surged 64% to $561 million.
- BTC futures open interest climbed to 747,000 BTC — the highest since June 4 — while implied volatility indexes for both BTC and ETH nearly fully reversed the spike seen earlier this month.
- Avalanche sentiment flipped sharply negative, with Santiment's positive-to-negative commentary ratio falling to 0.85 as mindshare shifted toward Solana and Sui; AVAX trades near $6.88, well below roughly $10 a month ago.
Why it matters: The BoJ rate hike to a 31-year high didn't derail crypto: BTC futures OI climbed to a three-week high of 747,000 BTC and short liquidations jumped 64% to $561 million, showing leveraged longs rebuilding. Standard Chartered's new Uniswap coverage with a $100 2030 target adds institutional validation to the altcoin leg.
