Bitcoin Dumps Below $87K as Japan’s Yen Carry Trade Unwinds: BOJ Shock, Crypto Liquidations and the Viral “Japan Crashed Crypto” Tweet
Bitcoin plunged from near $90,000 to as low as $83,000 during early Monday trading in Asia, erasing an estimated $140–$150 billion from the crypto market. The sell-off followed a spike in Japanese government bond yields and speculation over a Bank of Japan rate hike, triggering a rapid unwind of yen carry trades. Over $646 million in leveraged crypto positions were liquidated, with nearly 90% of those long.