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1h ago

Bitcoin Stalls Near $90,000 as BoJ Decision Looms and Bearish Signals Build

An expected BoJ rate hike has become the top macro risk for a market leaning on fragile support.

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Bitcoin [BTC]
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Overview

  • Bitcoin hovered around $89,000–$90,000 on Sunday after a brief dip to about $87,600, extending an 18‑day consolidation in thin weekend trading.
  • Chart watchers highlight bear‑flag formations and declining moving averages, warning that a break below roughly $88,000–$86,000 could open a move toward $85,000 and the $76,000–$80,000 area.
  • Traders are tracking the $90.4k CME futures gap as a key liquidity magnet that could precede a rebound attempt into the $92,000–$94,000 zone.
  • Markets widely expect the Bank of Japan to lift rates to about 0.75% on December 19, raising the risk of a yen‑carry unwind that has historically pressured bitcoin.
  • On‑chain data point to a low‑liquidity supply band between $74,000 and $80,000 and show notable BTC‑to‑ETH whale rotations, signaling selective risk‑taking despite cautious broader sentiment.