Bitcoin Drops Sharply as BOJ Rate Hike Bets Hit 64%

Bitcoin fell sharply during Asian hours on Dec. 1 as traders repriced risk assets following hawkish comments from Bank of Japan Governor Kazuo Ueda, Bitunix analysts said. Market pricing for a December BOJ rate hike rose to 64%, strengthening the yen and pushing short-term Japanese government bond yields to levels last seen in 2008. The selloff accelerated through a high-density liquidation zone at $92,300, with subsequent declines reaching liquidity clusters at $88,300 and $86,200. Key resistance now sits at $90,300 and $92,300, while support zones are located at $86,200 and $84,300, with deeper liquidity around $82,300 if downside momentum continues.