The cryptocurrency market is falling by 5-10% amid concerns about interest rate hikes by the Bank of Japan.
The cryptocurrency market has experienced a significant drop of 5-10%, with the price of Bitcoin falling below $92,000. This decline is attributed to concerns about a potential increase in rates by the Bank of Japan and tightening liquidity conditions. The fear and greed index in the market has shifted towards fear, indicating an increase in macroeconomic stress. The sell-off is occurring against the backdrop of the expiration of options on December 19 and a decline in flows into risk assets. Currently, Bitcoin is testing the support level at $86,000, with the possibility of further decline to $74,000 if the market continues to weaken.
BTCUSDT
Perp
90,138.3
-0.38%