The surge in Japan's 20-year government bond yield to its highest level since 2008 has sparked concerns among traders that bitcoin could face a significant correction. Higher yields indicate potential interest rate hikes and tighter financial conditions. This could lead to a stronger yen, reducing the appeal of carry trades and risk assets such as bitcoin. Traders are targeting a low of $70,000 for bitcoin in the coming weeks due to macroeconomic jitters and geopolitical and economic uncertainty. Some experts believe that the end of the tariff war and the Federal Reserve cutting rates could reignite a bullish trend for bitcoin. Technical indicators also suggest a negative outlook for bitcoin.



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