A tranquil weekend, blown up.

During the US market holiday, Bitcoin was still holding steadily above 90 800, as if waiting for a signal. Then, early this morning, the Bank of Japan dropped a bombshell—there might be an interest rate hike in December. The market was instantly stunned.

US stock futures plunged first, and Bitcoin crashed over 3 000 points within half an hour. The 90 800 support line? Broken in seconds. Now the price is approaching the 85 000 life-or-death line.

**Japan raising interest rates—why can this shake up global markets?**

It all starts with Japan's last thirty years. Zero or even negative interest rate policies made the yen the cheapest money in the world. Institutions frantically borrowed yen, converted it into dollars, and threw it into US stocks, Bitcoin, US bonds—playing this arbitrage game like there’s no tomorrow.

But once rates go up, borrowing costs skyrocket. High-leverage players can’t handle it and are forced to close positions and sell. Sell orders flood the market, and liquidity dries up in an instant.

Worse, the market is already pricing it in: over 60% chance of a rate hike in December, and as high as 90% in January next year. This "yen printing machine" that’s been running for thirty years might really be about to stop.

**85 000: The line of the bull-bear showdown**

Hold it? A double-bottom forms, a rebound is possible, and it could push back to 90 800.
Fail to hold? It’s a straight run down to 74 000. No support, free fall.

The key is still to see how liquidity moves after the US stock market opens.

**Whale moves: Did someone bail early?**

In the 24 hours before the pullback, on-chain data caught a strange scene: whale addresses holding 100+ BTC dumped nearly 2 000 coins—the largest sell-off in the past two weeks.

And retail and smaller holders? Still buying the dip.