Bitcoin didn’t crash on its own — global conditions pushed it down.
Here’s what happened:
Japan’s rapidly rising interest rates made borrowing more expensive worldwide. When funding costs spike, large investors cut risk exposure — and Bitcoin is usually among the first assets they unload.
At the same time, some traders misread MicroStrategy’s remarks, panicked, and helped drive $BTC below key support. That triggered stop-loss cascades and wiped out heavily leveraged positions.
Early-month liquidity was thin, so even a modest move snowballed into a sharp drop.
No major negative catalyst — just fear, macro tightening, and a fast liquidation spiral.
