The weekend calm has been shattered.

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

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

**Japan raising rates—how can that shake the global market?**

You have to look back at the past thirty years in Japan. Zero or even negative interest rate policies have made the yen the cheapest money in the world. Institutions have been frantically borrowing yen, converting it to US dollars, and then pouring it into US stocks, Bitcoin, and US Treasuries—this arbitrage game has been running wild.

But once rates rise, borrowing costs soar. High-leverage players can’t handle it and are forced to close positions and sell. Sell orders flood the market, and liquidity is instantly drained.

What’s more, the market has already priced this in: the probability of a December rate hike is over 60%, and as high as 90% for January next year. This "yen printing machine" that has been running for thirty years might really be coming to a halt.

**85,000: The battleground between bulls and bears**

Hold the line? A double bottom forms, a rebound is possible, and there’s a chance to retest 90,800.
Fail to hold? It’s a clear path down to 74,000. No support—free fall.

The key will still depend on how liquidity moves after the US market opens.

**Whale moves: Did someone get out early?**

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

And retail and small to medium holders? Still buying the dip.