BTC Plummets to $85K: Will It Sink Lower? 🚀💸

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Behold, the once-mighty Bitcoin, like a faltering suitor, found itself in a most unflattering position on Monday, its price slipping to a mere $85,500 amidst the sly whispers of a Bank of Japan rate hike. A true tale of woe, where even the most ardent bulls must now don their winter coats of despair. 🐍📉

Key takeaways:

  • Bitcoin, in a most theatrical swoon, dropped 5% to $85,000, liquidating $656 million in longs with the flair of a tragic opera. 🎭

  • The specter of a BoJ rate hike loomed like a fog over Tokyo, casting a shadow on BTC’s once-bright prospects. 🌫️

  • Analysts, ever the dramatists, predict a potential plunge to $67,700, a figure that would make even the most stoic investor weep into their coffee. ☕😢

Bitcoin Wipes Out Liquidity in Tumble to $85,000

BTC, in a fit of melancholy, fell to $85,616 on Monday, a 5.5% drop that left the market gasping. A true tragedy of epic proportions, akin to a Russian novel’s climax. 📖

This drop extended the agony from its October peak of $126,000, a 32% descent that would make even the most hardened trader question their life choices. 🤯

Over $564.3 million in longs were liquidated, with Bitcoin accounting for a hefty $188.5 million. Ether, ever the loyal sidekick, followed with $139.6 million in losses. 🐲

In total, a staggering $641 million vanished, a sum that could buy a small island (if only it weren’t for the crypto taxes). 🏝️💸

Analysts, ever the prophets of doom, blame the BoJ’s impending rate hike for this financial tragedy. A move that would make the yen dance and the yen carry trade weep. 💸

“$BTC dumped cause BOJ put Dec rate hike in play,” quipped Arthur Hayes, a man who clearly knows how to end a sentence with a period. 🗣️

Japanese yields, once as calm as a monastery, now spike like a caffeinated squirrel. The yen, too, surges with the vigor of a man who’s finally found his keys. 🐿️

With a 76% chance of a hike, the market trembles like a leaf in a hurricane. 🌪️

A Reuters poll reveals 53% of economists expect a hike, a number that would make even a poker face crack. 🃏

Higher rates, like a cruel mistress, make carry trades costly, forcing investors to sell risk assets. A scene straight out of a Shakespearean tragedy. 🎭

How Low Can Bitcoin Go?

The liquidation heatmap shows Bitcoin devouring liquidity around $86,000, a feast for the market’s gluttonous appetites. 🍽️

This suggests a further drop to sweep the remaining liquidity, a dance of despair. 🕺

From a technical standpoint, the bear flag has been validated, a omen of doom for the unwary. 🐻

A daily close below $90,300 would confirm the downtrend, leading to a measured target of $67,700. A figure that would make even the most optimistic investor clutch their pearls. 👑

Veteran trader Peter Brandit, ever the sage, shared a chart suggesting support between $45,000 and $70,000. A realm of uncertainty, where even the bravest souls might hesitate. 🧭

Not to bust anyone’s banana, but the upper boundary of the lower green zone starts at sub $70s with lower boundary support in the mid $40s.
How soon before Saylor’s Shipmates ask about the life-boats? $BTC

– Peter Brandt (@PeterLBrandt) December 1, 2025

 

As CryptoMoon reports, Bitcoin is following the 2022 bear market trajectory, a path as predictable as a well-trodden road. The true rebound may not arrive until next year’s first quarter, a wait that would test the patience of saints. 🕰️

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2025-12-01 11:15