Overview
- Bitcoin fell about 2.8% to roughly $85,340, its lowest level since December 1, as risk appetite weakened across crypto markets.
- Traders absorbed $692.4 million in liquidations over 24 hours, including $230 million tied to Bitcoin, with most losses coming from long positions, according to CoinGlass.
- Markets widely expect the Bank of Japan to raise rates by 25 basis points this week, a shift that could unwind yen-funded carry trades and pressure risk assets.
- Analysts note that previous BoJ hikes preceded Bitcoin drops of roughly 23% to 30%, and some projections suggest a potential pullback toward about $59,500 if selling persists.
- Against the volatility, Strategy disclosed to the SEC that it bought 10,645 BTC last week, lifting its total holdings to 671,268 BTC.