Bitcoin
Why Bitcoin is down 3.7% today
Analysis
Bitcoin fell 3.7% over the past 24 hours as a leverage unwind accelerated, triggering liquidations that extended the broader crypto sell-off, according to CoinDesk. Additional pressure came as BTC lost the key $84K support level, worsening technical sentiment and prompting further downside, per Cointelegraph.
Contributing Factors (3)
Bitcoin, ether extend declines as leverage unwind accelerates: Crypto Markets Today
Crypto markets fell further overnight as bitcoin and ether extended losses, metals tumbled and liquidation pressure hit leveraged traders across derivatives markets.
Here's why Fed contender Kevin Warsh is seen as bearish for bitcoin
BTC fell deeper to nearly $81,000 late Thursday as Warsh's odds surged in betting markets.
Bitcoin loses crucial $84K support: How low can BTC price go?
BTC could drop to as low as $50,000 in the worst-case scenario after BTC price failed to hold the important $84,000 support level.
Move Details
Explanation Confidence
High confidence in the explanation based on source reliability and timing.