Bitcoin traders are eyeing a target of $70,000 due to rising tensions in global markets as Japan’s 20-year government bond yield reaches its highest level since 2008. The increase in yields points to potential interest rate hikes by the Bank of Japan, which has historically prompted risk aversion towards assets like bitcoin. Analysts suggest that geopolitical uncertainties and the ongoing tariff war are causing institutions to reduce their crypto holdings, leading to fears that BTC could experience a significant correction in the near future.
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