Bitcoin experienced a sharp decline, falling below $85,000 and triggering nearly $600 million in liquidations across crypto markets. The selloff is attributed to growing expectations that the Bank of Japan (BoJ) will raise interest rates, impacting the yen carry trade. Data indicates significant liquidations in Bitcoin and Ethereum long positions. Market reports suggest the potential BoJ tightening is fueling the downturn. The broader crypto market also saw declines, with Ethereum, Solana, and XRP among the altcoins affected. The situation is compounded by weaker risk appetite following the Federal Reserve's recent meeting and moderated inflows into spot Bitcoin ETFs.

Bitcoin experienced a sharp decline, falling below $85,000 and triggering nearly $600 million in liquidations across crypto markets. The selloff is attributed to growing expectations that the Bank of Japan (BoJ) will raise interest rates, impacting the yen carry trade. Data indicates significant liquidations in Bitcoin and Ethereum long positions. Market reports suggest the potential BoJ tightening is fueling the downturn. The broader crypto market also saw declines, with Ethereum, Solana, and XRP among the altcoins affected. The situation is compounded by weaker risk appetite following the Federal Reserve's recent meeting and moderated inflows into spot Bitcoin ETFs.