Ahead of the Bank of Japan's rate hike, why does Bitcoin fall first?On December 15, Bitcoin dropped from $90,000 to $85,616, a single-day decline of over 5%. There was no major crash event, but gold hardly moved on the same day. The answer might need to be sought in Tokyo, as yen arbitrage position unwinding is changing Bitcoin's pricing logic.
(Background: Yen bottom signal? Morgan Stanley warns: The Japanese yen will appreciate by 10% in early 2026, and US Treasury yields have stabilized and declined)
(Additional context: Japanese bond yields soared to 1.86%, a 17-year high, "causing Bitcoin to crash," revealing the danger of 600 trillion yen in arbitrage unwinding)
Table of Contents
The Butterfly Effect in Tokyo
Is Bitcoin Still Digital Gold?
What Will Happen on December 19?
Accepted by People, Influenced by People
The answer might need to be sought in Tokyo. On December 15, Bitcoin dropped from 90,0
動區BlockTempo·28m ago