🤑 Bitcoin fell to around $85,000 following speculation of a rate hike by the Bank of Japan in December.
💥 The pullback liquidated $656 million in long positions and reflects the crypto market's sensitivity to international monetary policies.
🇯🇵 Expectations of a weaker yen, coupled with higher yields on sovereign bonds, are driving the adjustment in risk assets like Bitcoin.
Bitcoin has confirmed the LPSY (Last Point of Supply), which is basically a retest of the 93k resistance area. At this level, buying power has dried up while selling pressure is taking over, leading to a strong sell-off. The next target is the short-term bottom at 81k, and if the drop continues, it could reach 75k
$140,000,000,000 removed from the crypto market capitalization in the last 4 hours.
