Bitcoin Selloff Toward $60K May Resume as Japan Raises Rates

The Bank of Japan raised its short-term policy rate by 25 basis points to 1.0% on June 16, the highest level in 30 years. Policymakers cited persistent inflation risks from higher energy costs and ongoing Middle East supply disruptions. Bitcoin slipped nearly 2.5% from a local high of $67,250 but was holding its June gains, even as the rate move increased the risk of a renewed slide toward the $60,000 support.

Historically, Bitcoin has tended to weaken after BoJ hikes: in the 30 days following the last four increases, BTC averaged a 5.74% decline. It fell 5.59% after the March 2024 hike, 10.89% after July 2024, and 14.77% after January 2025. The only positive case came after the December 2025 hike, when BTC gained 8.31% over the next 30 days, but that rebound followed a sharp correction from its October 2025 peak and reflected an already deeply oversold market.

Applying the 5.74% average to Bitcoin’s price near $66,500 points to a downside target around $62,700, sitting just above the $59,000–$62,000 demand zone.

Japan

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