The cryptocurrency market, ever the fickle lover, suffered a cruel betrayal on Monday, wiping out last week’s gains-those fleeting moments of glory when Bitcoin soared to $93,000, a price as ephemeral as a champagne bubble. 🥂💥
- Bitcoin’s price plunged below the sacred support level of $85,000, a number so vital it might as well be etched into the moon. 🌕
- The Bank of Japan’s governor, Kazuo Ueda, hinted at a rate hike, a move as thrilling as watching a penguin juggle. 🐧
- A hike when the Fed is cutting rates? A recipe for chaos, akin to mixing gasoline and a lit match. 🔥
Bitcoin (BTC) token nosedived to $84,880, triggering a crypto market crash so severe it made even seasoned investors question their life choices. The market cap of all coins dropped by ~8% to $2.9 trillion-a number so large it’s best measured in astronomical units. 🌌
One potential reason for Bitcoin’s demise? A sudden flip by the Bank of Japan. In a statement, Ueda declared the bank would “carefully examine” the pros and cons of raising rates, a process as exciting as a spreadsheet audit. 📊
As a result, the Japanese yen rebounded, government bond yields soared, and the 10-year yield hit a multi-decade high of 1.876%, a figure so impressive it might warrant a Nobel Prize in Economics. 🏆
A BoJ rate hike during a Fed rate cut? A divergence so absurd it could only be orchestrated by a committee of confused squirrels. 🐿️ This “carry trade” unwinding is already causing panic, reminiscent of last year’s chaos when the BoJ decided to hike rates-because why not? 🤷♂️
In July 2024, the Fed cut rates while the BOJ raised rates, leading to the unwind of the carry trade.
Bitcoin capitulated into it, and found a low 1 week later.
Good chance this happens again on December 10th (Fed cuts, BOJ raises rates).
So maybe Bitcoin finds a low mid-Dec?
– Benjamin Cowen (@intocryptoverse) December 1, 2025
The BoJ’s actions are significant, as it’s the second-largest central bank in the world, trailing only the Fed. With $5.8 trillion in assets, it’s the financial equivalent of a superhero with a side hustle. 🦸♂️
Bitcoin’s price is also falling as market participants adjusted their positions after last Friday’s options expiry, worth over $13 billion. A spectacle as predictable as a toddler’s tantrum. 🍼
Other culprits? Rising liquidations and ETF outflows, a perfect storm of chaos. 🌪️
Bitcoin price technical analysis
The BTC price has been in a downtrend since forming a double top at $124,630 and a neckline at $107,270-a bearish reversal pattern so classic it’s practically a Shakespearean tragedy. 🎭
The coin has formed a series of lower lows and lower highs, a pattern as thrilling as a slow elevator ride. It also formed a death cross, a pattern so ominous it’s best avoided by all but the most masochistic investors. 🕯️
On the bright side, there are signs the coin may form a double-bottom pattern at $80,637, a neckline at $93,065. So, if it stays above $80,637, Bitcoin might rebound-though it’s about as reliable as a weather forecast in a hurricane. 🌩️
Read More
- Will Solfart Fart Its Way to Crypto Fame? 🤔
- Oh, The Drama! Crypto Whales Evacuate as Market Prepares to Shuffle 🌪️
- 🚀 ETH’s Wild Ride: Will It Break Free or Crash Harder? 🌕
- Bitcoin Mania: Health Firm Goes Full Crypto! 🚀
- 🇬🇧 BoE’s £20K Cap: Aave Founder Calls UK “Losers” – Crypto Drama Unfolds! 💸
- Gold Rate Forecast
- Cardano vs. Quantum: Charles’ ‘Clinic’ Chaos
- Bitcoin Predictions: Dead Cat Bounce or Bullish Bliss? 😹💰
- Bitcoin Miners Go Green as AI Deals and Bitcoin Surge Create Perfect Storm
- XRP Whales Hoard Crypto Like Scrooge McDuck 😂💸 – Will Market Survive This Greed?
2025-12-01 23:29