Bitcoin Will ‘Dump Below $70K’ Thanks to Hawkish Japan: Macro Analysts Warn

Bitcoin could be heading for another sharp correction, and this time the pressure may not be coming from the U.S. — but from Japan. Several macro analysts are warning that a more hawkish stance from the Bank of Japan (BoJ) could trigger a global risk-off move that drags Bitcoin below $70,000.

For years, Japan’s ultra-loose monetary policy has quietly fueled global risk assets. Cheap yen funding helped support carry trades, where investors borrowed in yen and poured money into higher-yielding assets like stocks, tech, and crypto. Now, that support is wobbling. If the BoJ continues tightening or signals higher rates for longer, those carry trades could unwind fast.

When that happens, liquidity dries up. And Bitcoin, despite its long-term narrative, still reacts sharply to sudden liquidity shocks. Analysts argue that this isn’t about Bitcoin’s fundamentals weakening — it’s about forced selling as leveraged positions unwind across global markets.

Another concern is timing. Bitcoin is already struggling to build momentum near key resistance levels, and sentiment remains fragile after recent volatility. A yen-driven shock could be the catalyst that pushes BTC into a deeper pullback zone.

Still, not everyone sees this as the start of a new bear market. Some view a potential dip toward $70K as a liquidity-driven reset, not a structural breakdown. Long-term holders remain largely inactive, suggesting conviction hasn’t cracked.

In short, Japan’s policy moves matter more to crypto than many realize — and Bitcoin’s next major test may come from Tokyo, not Washington.