Bitcoin will ‘dump below $70K’ thanks to hawkish Japan: Macro analysts
Macro analysts suggest Bitcoin could drop below $70,000 if the Bank of Japan hikes interest rates, citing liquidity drain concerns.Summary
Multiple macro analysts warn that Bitcoin faces a potential correction toward $70,000 if the Bank of Japan (BoJ) implements an expected interest-rate hike on December 19th. The primary mechanism for this pressure is the BoJ's tightening, which historically strengthens the Japanese yen, making borrowing more expensive and forcing traders to unwind 'yen carry trades,' thereby draining global liquidity. This reduction in liquidity often leads to risk-off environments where investors reduce leverage, pressuring Bitcoin. Analyst AndrewBTC noted that every BoJ rate hike since 2024 has coincided with Bitcoin price drawdowns exceeding 20%. Furthermore, technical analysis on Bitcoin's daily chart shows a bear flag formation, where a breakdown below the consolidation channel could target the $70,000–$72,500 zone, aligning with the macroeconomic prediction.
(Source：Cointelegraph)