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...🙏
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
#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...🙏