Bitcoin Drop Triggers Three Competing Explanations: BOJ Rate Signals, UTC Rebalancing, Parabolic Cycle Risk

Bitcoin's sharp selloff has prompted three distinct interpretations from market analysts. Arthur Hayes attributes the decline to Bank of Japan rate-hike signals affecting yen liquidity during Asia-Pacific trading hours. Nik Algo argues the drop resulted from algorithmic rebalancing at UTC day, week, and month boundaries. Peter Brandt warns the rally structure mirrors historical parabolic cycles that preceded 75% drawdowns.