The upcoming inauguration of President Trump on January 20 is expected to have an impact on bitcoin and cryptocurrency prices. However, investors are also keeping an eye on a potential rate hike by the Bank of Japan on January 24, which has previously caused market turbulence. The BoJ has maintained negative interest rates since 2016, but has increased rates twice in 2024. A higher-than-expected inflation report and the possibility of another Yen carry trade unwind could further affect the market. The DXY index, which measures the value of the US dollar against major foreign currencies, is currently strong but has followed a similar trajectory to Trump's first term - rallying before the inauguration and then falling considerably, benefiting risk assets. The Japanese Yen is also at a strong level against the dollar.



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