Bitcoin
Why Bitcoin is down 5.2% today
Analysis
Bitcoin fell 5.2% over the past 24 hours as a wave of forced selling hit the market, with leveraged positions getting liquidated and accelerating downside momentum, according to CoinDesk. The sell-off also coincided with ETF-flow driven pressure and broader crypto weakness, with Bitcoin Magazine noting BTC slid into the $75,000 range amid a wider market drop.
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.
Bitcoin Price Crashes to $75,000 Range As Broader Crypto Market Sells-Off
Bitcoin Magazine Bitcoin Price Crashes to $75,000 Range As Broader Crypto Market Sells-Off The bitcoin price crashed into the $75,000 range, breaking below key technical support levels as heavy sellin...
Bitcoin Traders See Nearly Even Odds for $69K Drop or $100K Recovery
Bitcoin sentiment on Myriad flipped bearish for first time in two months as traders bet on further downside amid shutdown fears and extreme market volatility.
Move Details
Explanation Confidence
High confidence in the explanation based on source reliability and timing.