The sudden plunge erased billions in market value and triggered heavy liquidations.
Analysts pointed to the Bank of Japan’s signals of a possible December rate hike and the weakening yen.
Bitcoin may retest support around $82,622 if the decline continues, analysts said.
Bitcoin tumbled 5% in a matter of hours on Sunday, igniting a wave of speculation among traders who say the scale and speed of the drop defy any clear macro trigger.
The sharp reversal, which pushed $BTC below $86,000, erased more than $200 billion in market value and flushed out nearly $700 million in leveraged positions within a day.
