According to a report by TechFlow on December 14, several macro analysts said that if the Bank of Japan (BoJ) raises interest rates as expected on December 19, Bitcoin may continue to pull back to the $70,000 level.
According to analyst AndrewBTC data, since 2024, each rate hike by the Bank of Japan has been accompanied by a Bitcoin price correction of over 20%, including a 23% drop in March 2024, a 26% drop in July 2024, and a 31% drop in January 2025. A Reuters poll shows that most economists predict another rate hike at the December policy meeting.
Analysts point out that interest rate hikes by the Bank of Japan typically strengthen the yen, increase borrowing costs, and force traders to unwind "yen carry trades," thereby reducing global market liquidity. In a tight liquidity environment, investors tend to reduce leverage and risk exposure, putting pressure on risky assets such as Bitcoin. Technically, Bitcoin's daily chart shows a classic bearish flag pattern; if it breaks below the lower trendline, the target is the $70,000 to $72,500 range.
