Bitcoin's recent drop? It's a double whammy of macro pressure and overleveraged positions unwinding simultaneously.

Here's what triggered the selloff: Japan's 2-year bond yield crossed the 1% threshold—a critical level that signals borrowing costs in Japan are climbing. This development rattled global markets hard. Why? Because when yields rise in Japan, it typically means capital flows shift, and investors bail out of riskier assets fast.

The timing couldn't be worse. BTC was already sitting on top of massive leverage across exchanges. Once macro fears kicked in, liquidations cascaded. It's textbook risk-off behavior: money runs from volatile assets when traditional finance shows cracks.

So yeah, not some mysterious crash. Just markets doing what they do when fundamentals shift and overleveraged positions get caught offside.