Analysts predict that if the Bank of Japan raises interest rates as expected this month, Bitcoin may correct to $70,000.

On December 14th, according to Cointelegraph, several macro analysts believe that if the Bank of Japan raises interest rates as expected on December 19th, Bitcoin may further retrace to the $70,000 level. Analyst AndrewBTC stated that based on historical data, every rate hike by the Bank of Japan since 2024 has been accompanied by a drop in Bitcoin prices of over 20%, such as a drop of approximately 23% in March 2024, a drop of approximately 26% in July 2024, and a drop of approximately 31% in January 2025. If the Bank of Japan raises interest rates next week, similar downside risks may reappear.