Bitcoin price at risk of a crash to $75 as a major BoJ risk looms
Bitcoin price remained under intense pressure this weekend, and may be at risk of a deeper dive, potentially to $75,000 ahead of the Bank of Japan interest rate decision.Bitcoin price could be on the verge of a strong bearish breakout.Odds of BoJ rate hike have jumped to 98% this week.Technical analysis suggests that the coin will drop further soon.Bitcoin , the original cryptocurrency, was stuck at the psychological point at $90,000. This price is about 29% below its highest point this year, a sign that it remains in a deep bear market.The coin may crash this week as investors anticipate the upcoming Bank of Japan rate hike on December 19. Data on Polymarket show that there is a 98% probability that the bank will hike rates by 5 basis points as it combats the elevated inflation.The upcoming BoJ rate hike is notable for a few reasons. First, it will reinforce its independence as Sanae Takaichi, the current prime minister, favors low interest rates.A plunge below that level will point t
