Bitcoin Price Dips as Traders Prepare for Bank of Japan's Interest Rate Increase to 30-Year Peak

Bitcoin Price Movement: Bitcoin's price has slightly decreased to $90,293, with trading volume dropping by 28% as traders anticipate a potential interest rate hike by the Bank of Japan, which could impact risk assets globally.

Market Sentiment and Support Levels: Following a correction from its all-time high of $126,230, Bitcoin is currently in a consolidation phase between $89,000 and $94,000, with key support around $85,000 and resistance near the 50-day Simple Moving Average at approximately $108,640.

Interest Rate Impact: The Bank of Japan is expected to raise interest rates for the first time in 11 months, which has led to increased yields on Japanese bonds and concerns over global liquidity and risk assets.

Price Prediction: If Bitcoin maintains support above the current demand zone, it could recover towards the $105,000–$108,000 range; however, failure to hold the $85,000 support could lead to further declines towards $75,000–$78,000.