Jun 10
Bitcoin Price Drops Follow BOJ Rate Hikes: Is Another Crash Developing?
➤ Historical data indicates a correlation between Bank of Japan rate hikes and significant Bitcoin price drops, with an average decline of 22.4% following past increases. ➤ While the yen carry trade has been a factor, current on-chain data suggests whale distribution and exchange inflows are exerting more immediate pressure on Bitcoin's price. ➤ The article highlights uncertainty surrounding the upcoming BOJ decision and its potential impact on Bitcoin, alongside concerns about large holder behavior.