The Bank of Japan suddenly turns hawkish, and BTC continuously breaks through multiple key support levels.

[Block Rhythm] On December 1, Bank of Japan Governor Kazuo Ueda suddenly released a hawkish signal— the market immediately reacted, and the probability of a rate hike in December soared to 64%. The yen strengthened in response, and short-term government bond yields hit a new high since 2008.

This wave of operations is not just a matter for Japan. Global capital is beginning to reprice risk, with the US dollar and high-volatility assets coming under pressure. Just at this moment, diplomatic friction between the United States and Venezuela suddenly escalated, igniting risk aversion sentiment.

The crypto market? Directly stunned by this wave of macro shocks. BTC plummeted significantly during today's Asian session, with liquidation volumes piling up crazily. Just looking at the liquidation map, it’s clear—around $92,300 formed an ultra-high density liquidation zone. After breaking through that price, the decline accelerated, consecutively hitting liquidity stack points of $88,300 and $86,200. Now it’s still testing deeper support levels.

From a technical perspective, BTC has already lost its previous consolidation range. The upper pressure is clear: $90,300 and $92,300 are two hard obstacles. What about the support below? $86,200 and $84,300 are key levels, but if the sentiment continues to be bearish, it cannot be ruled out that it will directly test the large liquidity pool at $82,300.

In simple terms, this decline is a classic case of “high position liquidation being triggered all at once.” The Bank of Japan has shifted to a hawkish stance, coupled with sudden geopolitical events, leading to a double blow that risk assets cannot withstand in the short term. Next, we need to see if funds can be reabsorbed in the liquidity pool below. In the medium to short term, the market is likely to remain in a downward trend, with a focus on signals of structural repair and capital replenishment.