Bitcoin risks a further drop toward the $70,000 area if the Bank of Japan follows through with an expected interest-rate rise on Dec. 19, analysts focused on macro forces warned. Related Reading According to multiple macro-focused voices, the move could sap global liquidity and put fresh downward pressure on risk assets, with some traders already bracing for a sharp pullback. Japanโs policy shift matters because higher rates tend to strengthen the yen and raise the cost of borrowing. When that happens, traders who previously borrowed cheaply in yen to invest…
Bitcoin Could Drop To $70K As Bank Of Japan Rate Move ApproachesโAnalysts
