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BOJ's 75 Basis Points Rate Hike Sparks $2 Billion Bitcoin Sell-Off and Deleveraging

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BTC
$88,899.500.72%
The Bank of Japan’s 75 basis points rate hike triggered Bitcoin sell-offs and deleveraging, with $2 billion in selling pressure from large holders. Long-term holders near $101,000 are now 16% underwater. Open interest analysis shows Bitcoin open interest is 30% below pre-crash peaks, pointing to caution. Support and resistance levels suggest $85,000 as potential support, with historical patterns indicating further drawdowns as capital exits amid higher borrowing costs.
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