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The Fed & BoJ Will Trigger Another Bitcoin CRASH to $63K

The Bank of Japan rate hikes & Fed rate cuts have both triggered big selloffs for Bitcoin. The rate cut last week was followed by a selloff becasue the Fed is foretasted a pause of rate cuts which is bad for crypto. The BoJ will likely hike rates Friday. That will begin to unwind the yen carry trade. Bitcoin has topped just before BoJ rate hikes and has sharp declines of 30% or nearly 30%. I expect BTC will drop to $63K, which is a 50% decline from the top.

In the past, BTC has crashed by approximately 50% to kick of bear markets. I expect that will happen again. The selloff that I predicted at the top continues to play out. BTC has started the bear market.

Understanding the Yen Carry Trade Unwind

Bitcoin & the stock market can go down when the Bank of Japan raises rates because it disrupts the popular yen carry trade, which involves borrowing yen at low interest rates to invest in higher-yielding assets elsewhere, like cryptocurrencies & stocks. A rate hike makes yen more expensive to borrow, forcing investors to exit these leveraged trades, leading to sell-offs in assets like Bitcoin, crypto, U.S. stocks and bonds.

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@saylor