Bitcoin Slips Below $90,000 as Traders Brace for BOJ Hike and U.S. Data

Overview

• Bitcoin hovered near $89,600 after dipping under $90,000 as weekend and year‑end conditions kept volumes light.
• Markets widely expect the Bank of Japan to raise rates by 25 bps to 0.75% this week, a shift seen as a potential drag on yen-funded carry trades tied to risk assets.
• Roughly $293–$295 million in crypto positions were liquidated over the past 24 hours, with long traders taking most of the losses, according to CoinGlass data.
• Traders are watching the $90.4K CME futures gap for a possible rebound and resistance at $92K–$94K, with attention on support around $86K–$89K and $85K below.
• Analysts warn that losing $86K could extend the correction toward the mid‑$80Ks or even the April lows near $76K, as ether shows relative weekly outperformance versus bitcoin.