Bitcoin analysts see potential slide under $70K if Bank of Japan raises rates on Dec. 19

Macro-focused traders warn that Bitcoin could extend its correction toward the $70,000 area if the Bank of Japan delivers a benchmark rate hike on Dec. 19. Past BoJ tightening cycles in 2024 and early 2025 coincided with 20–30% BTC drawdowns, while a current bear flag pattern on the daily chart also targets the $70,000–$72,500 zone. Analysts highlight Japan's impact on global liquidity and the unwinding of yen carry trades as key downside risks for the crypto market.