#bitcoin has dropped to $85,000 driven largely by concern over the Bank of Japan’s (BOJ) anticipated interest rate hike. The BOJ is expected to raise rates to level not seen in three decades prompting a shift in global liquidity and risk sentiments. Higher Japanese rates reduce the attractiveness of carry trades traditionally funding investments in risk assets like Bitcoin. Coupled with broader market volatility and ongoing liquidations in crypto market Bitcoin’s decline reflect both macroeconomic pressure and technical weaknesses. Analysts caution that further downside could occur if central bank
tightening continues.
BTC
87,829.62
+2.04%
