BTC Dip Keeps Giving After Japan's $135B Stimulus Announcement

Japanese Prime Minister Sanae Takaichi’s cabinet approved a JPY 21.3 trillion ($135.40 billion) stimulus package, the largest since the COVID pandemic, aimed at easing inflation burdens on households and businesses through general outlays and tax cuts. This expansionary fiscal move, which might contradict traditional views that stimulus is inflationary, coincided with Bitcoin extending its recent sell-off. Despite being viewed as an inflation hedge, BTC fell 0.8% to $85,480, continuing a decline from its October 8 record high of $126,000. The article also briefly mentions related market context, noting Bitcoin's price drop toward the mid-$80Ks due to weak market structure and selling pressure from dormant wallets.

(Source：CoinDesk)