๐จ URGENT MARKET ALERT: Japan Shocks Crypto! ๐๐ฏ๐ต
$BTC has plunged under $87,500 in early Asia trading, dragged down by a major macro event: Japan's bond yields hitting a 17-year high!
The Bank of Japan (BOJ) is signaling a potential rate hike, causing the Yen to strengthen rapidly. This is triggering a massive unwind of yen carry trades, which have long supported crypto and other risk assets. ๐
BTC: Dropped below $87,500 ๐ฅ
ETH: Slipped toward $2,850
Total Liquidations: Over $290M combined in long positions for BTC and ETH in thin liquidity! ๐ธ
Japan 2Y Yield: Surged above 1.01% (Highest since 2008), intensifying BOJ rate-hike bets. ๐น
The market is extremely sensitive to this shift in Asian liquidity. Watch the BOJ communications closely this week! Expect continued volatility if Yen strength persists. ๐#BTC86kJPShock #CryptoIn401k $BTC
