As Japan’s 20-year government bond yield has surged to its highest level since 2008, concerns over Bitcoin’s value are mounting. The yield, now at 2.265%, raises speculation about potential rate hikes by the Bank of Japan, fueling risk aversion among investors. Traders are now targeting a drop for Bitcoin (BTC) to the $70,000 mark in light of geopolitical and economic uncertainties, ongoing trade wars, and a cautious Federal Reserve stance on interest rates. Market analysts cite declining institutional interest in crypto holdings and the lack of immediate positive catalysts, with Bitcoin testing critical support levels. The sentiment echoes conditions seen in August 2024, when rising yen strength prompted widespread equity sell-offs. Industry experts express caution, noting that a potential close below critical technical levels could signal further declines. The Bitcoin landscape remains fraught with uncertainty as external economic factors weigh heavily on market dynamics.

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