BTC down by 2.32% to 86,918,$ amidst extreme fear, the Bank of Japan's rate decision looms

Bitcoin (BTC/USDT) has experienced a price drop of 2.32% over the last 24 hours, currently trading at 86,918.79 $ on Binance. The decline is attributed to macroeconomic uncertainty, particularly the anticipation surrounding the upcoming rate decision of the Bank of Japan and the overall market sentiment influenced by a drop in the Fear and Greed Index to 16, reflecting "extreme fear." Other factors include a surprising earnings result from Broadcom impacting sentiment on crypto mining and ongoing geopolitical concerns and rate cut expectations. Despite the volatility, Bitcoin maintains a strong trading volume and a dominant market position, with a 24-hour volume of over 11,567 BTC on Binance and a market capitalization of approximately $1.786 trillion.