TechFlow news, December 14 — According to Cointelegraph, several macro analysts said that if the Bank of Japan (BoJ) raises interest rates as expected on December 19, Bitcoin could continue to pull back toward the $70,000 level.
Data from analyst AndrewBTC shows that since 2024, every BoJ rate hike has been accompanied by a Bitcoin price correction exceeding 20%, including a 23% drop in March 2024, a 26% decline in July, and a 31% fall in January 2025. A Reuters poll indicates that most economists expect another rate hike at the December policy meeting.
Analysts noted that BoJ rate hikes typically strengthen the yen, raise borrowing costs, and force traders to unwind "yen carry trades," thereby reducing global market liquidity. In such tightening liquidity conditions, investors tend to reduce leverage and risk exposure, putting pressure on risk assets like Bitcoin. Technically, Bitcoin’s daily chart shows a classic bear flag pattern, and a break below the lower trendline would target the $70,000 to $72,500 range.
