Overview
- Bitcoin fell roughly 5%–8% with intraday lows near $84,000–$85,000, pulling total crypto market value back under $3 trillion.
- Forced unwinds accelerated the drop, with Coinglass tallying about $962 million in 24-hour liquidations across more than 266,000 accounts.
- Japanese government bond yields hit 17-year highs after BOJ signals of possible tightening, pressuring yen-funded carry trades tied to risk assets.
- Weak spot Bitcoin ETF flows, a $9 million Yearn Finance exploit, and S&P’s downgrade of USDT’s stability assessment further eroded confidence.
- Risk aversion bled into equities and futures, with tech shares slipping as traders gauge BOJ moves and upcoming Fed signals, while $80,000 emerges as a key BTC level.