[Bitunix Analyst: Hawkish Signals from the Bank of Japan and Geopolitical Impact Lead to BTC Decline] On December 1, Kazuo Ueda, Governor of the Bank of Japan, released clear hawkish signals, raising the market's probability of a December rate hike by the Bank of Japan to 64%. The yen strengthened, and short-term Japanese government bond yields hit their highest level since 2008. Global capital flows were repriced, putting pressure on the dollar and high-volatility assets. Diplomatic tensions between the U.S. and Venezuela escalated, further intensifying risk-averse sentiment and causing sharp fluctuations in the crypto market. During the Asian trading session, BTC experienced a significant drop, with liquidation volumes rapidly accumulating. After breaking through the $92,300 liquidation zone, the decline accelerated, consecutively hitting liquidity regions at $88,300 and $86,200. Bitunix analysts believe that the structural breakdown of BTC is a typical pattern triggered by high-level liquidation stacking. In the short to medium term, the market is likely to trend downward with fluctuations, and it remains to be seen whether funds can form absorption in the lower liquidity pools.