Bitcoin’s 30% drops after past yen interventions raise new risk as traders track JPY moves

Bitcoin has previously fallen about 30% from local highs during Japanese yen intervention periods before rebounding by more than 100%, a pattern some market participants are watching as talk of renewed JPY action grows. Analysts warn BTC could slide toward the $65,000–$70,000 zone if this fractal repeats, while onchain indicators such as NUPL and delta growth rate still point to an incomplete bottoming process.