Analysis: If the Bank of Japan raises interest rates as expected, Bitcoin may fall below $70,000
According to Cointelegraph, some macro analysts believe that if the Bank of Japan raises interest rates on December 19 as anticipated, Bitcoin could further retrace to the $70,000 level.
Analyst AndrewBTC, tracking historical data, states that every rate hike by the Bank of Japan since 2024 has been accompanied by a drop in Bitcoin prices of over 20%, such as a drop of about 23% in March 2024, a drop of about 26% in July 2024, and a drop of about 31% in January 2025. If the Bank of Japan raises rates next week, similar downside risks may arise again.
