Bitcoin ditches $16K dip as 'Leeroy Jenkins' Bank of Japan flattens dollar
BTC price sees short-term relief as the DXY falls, but Bitcoin analysts warn that Japan's move means carnage for global markets. Bitcoin (BTC) recovered from an overnight dip on Dec. 20 as Japan’s central bank sparked chaos on global financial markets. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Analyst likens BoJ policy to FTX Data from Cointelegraph Markets Pro and TradingView showed BTC/USD returning to near $17,000 after falling over 3% through the course of Dec. 19. The largest cryptocurrency benefitted from flash U.S. dollar weakness, this coming on the back of a surprise policy tweak from the Bank of Japan (BoJ). Long a deflationary environment with ultra-low interest rates, Japan woke up to a sea change on the day as policymakers lifted the cap on bond yields. The yen instantly gained against the dollar , while Japan’s Nikkei plummeted. Reacting, Bitcoin analysts were anything but jubilant despite the short-term benefits for BTC/USD. Japan, seeming to follo...