Han Mu Xia: Japan's interest rate hike has been fully priced in, and Bitcoin at $112,500 is a strong resistance level

Chinese crypto analyst Banmuxia released a video stating that Japan's interest rate hike has been fully digested by the market, and the future path of interest rate hikes still needs to be observed. Banmuxia reiterated that the two important prerequisites for being bullish on Bitcoin are: the Federal Reserve's balance sheet expansion and Bitcoin's technical pattern being in a horizontal consolidation phase.

Through technical analysis, Banmuxia believes that Bitcoin's key resistance level is in the range of $98,600 to $107,000, with $112,500 being a strong resistance level, but the complexity of the market during this process is quite high.