Why does the Japanese Central Bank's interest rate hike first target Bitcoin?Author: David, Deep Tide TechFlow
On December 15, Bitcoin dropped from $90,000 to $85,616, a decline of over 5% in a single day.
There were no major crashes or negative events that day, and on-chain data did not show any abnormal selling pressure. If you only follow crypto news, it's hard to find a "plausible" reason.
But on the same day, gold prices were at $4,323 per ounce, only down $1 from the previous day.
One dropped 5%, the other hardly moved.
If Bitcoin truly is "digital gold," a hedge against inflation and fiat currency devaluation, then its performance in risk events should resemble gold more. But this time, its movement clearly looks more like high Beta Tech Stocks on the Nasdaq.
What is driving this round of decline? The answer might be found in Tokyo.
Tokyo's Butterfly Effect
区块客·10h ago