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#Bitcoin Trading around $86.5k
Now, The crypto market fell 4.3% over the last 24 hours, driven by a wide combination of leveraged liquidations, macro fears around Japan’s potential rate hikes, and a DeFi exploit.
⏩ Leverage unwinding–
$539M plus in liquidations, with 111,000 Trader's mostly longs, amid record-high leverage ratios.
⏩ BOJ rate hike bets–
Japanese bond yields surged, strengthening the yen & pressuring risk assets.
⏩ Yearn Finance exploit–
$3M attack on yETH pool amplified selling in ETH and BTC.
CONCLUSION
Today’s drop reflects a “perfect storm” of leverage-induced fragility, macro uncertainty, and protocol risks. Traders should monitor BOJ’s December 10 meeting & Bitcoin’s $87K support level.
With fear dominant and leverage resetting, the stage is set for potential relief rallies – but can buyers step in before $80K breaks?
Anyways,
Always #DYOR and Trade with #StopLoss in Crypto Market...🙏