Bitcoin Crashed 20%+ After Every Bank Of Japan Rate Hike—And Another One May Be Coming
Posted On March 24, 2026
Every Bank of Japan (BOJ) rate hike since 2024 has caused a Bitcoin (CRYPTO: BTC) crash of at least 20%.
With Japanese 10-year yields hitting a 27-year high if 2.32% on Monday, fears abound that another BOJ tightening cycle could trigger the next crypto selloff.
The Four Rate Hikes That Crushed Bitcoin
The BOJ raised rates four times since March 2024, and Bitcoin fell sharply after three of them.
On March 19, 2024, the BOJ raised rates from -0.1% to a 0-0.1% range, ending eight years of negative rates. Bitcoin fell roughly 23% in the following weeks.
The July 31, 2024 hike to 0.25% triggered the most violent episode.
The yen appreciated from 160 to below 140 against the dollar, triggering a trillion-dollar global asset selloff.
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