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The Real Reason Bitcoin Fell 6% Overnight: Japan Just Triggered a Global Margin Call
Bitcoin dropped more than 6% as Japan’s 10-year bond yield surged to its highest level since 2008, triggering the partial unwinding of trillions of dollars in yen carry trades. This spike in Japanese yields forced over $600M in Bitcoin liquidations and contributed to heavy ETF outflows, but whales accumulated aggressively. Markets now await the December 18 BOJ decision, which could send Bitcoin either toward $75K or back above $100K.