【Cryptocurrency Market】
【GM☀—Tuesday—12.02】
#二级 The cryptocurrency market has plummeted, with a total market value of approximately $3.04 trillion, down 5-6% in 24 hours.
Bitcoin (BTC) has dropped to $86,000 (down 5-6%), and Ethereum (ETH) has fallen to $2,823 (down 6-10%).
Major coins have generally declined, with trading volume around $135-262.9 billion, dominated by sell-offs.
Why the sudden plunge: Hawkish comments from the Bank of Japan (BOJ) increased the probability of interest rate hikes to 76%, with Japanese bond yields soaring to 1.84% (the highest since 2008), triggering the collapse of "yen repurchase" trades and global liquidity concerns; coupled with nearly $1 billion in leveraged liquidations and ETF outflows, wiping out $130-150 billion in market value.
