Bitcoin Price Plunge Followed Yen Intervention: Historical Analysis
Historical data indicates that Bitcoin (BTC) has experienced significant price drops following yen interventions. According to reports, past yen shocks correlated with BTC declining by 30%. However, these declines were often followed by substantial rebounds, exceeding 100%. Traders are reportedly observing this historical pattern as discussions surrounding potential Japanese intervention resurface. The development highlights the interconnectedness of traditional financial markets and the cryptocurrency space, with currency interventions potentially impacting Bitcoin's price dynamics.
Never miss a Web3 update
Join our Telegram channel to receive news in real-time, straight to your phone.