Bitcoin
Why Bitcoin is down 2.7% today
Analysis
Bitcoin fell 2.7% over the past 24 hours after a sudden drop below $88K triggered a wave of forced selling, with hourly liquidations spiking as leveraged positions were wiped out. The liquidation-driven move was highlighted by CryptoPotato, pointing to cascading sell pressure as the primary driver.
Contributing Factors (3)
Bitcoin Price Suddenly Plunges Below $88K as Hourly Liquidations Explode
Over $130M worth of leveraged positions were wiped out in the past 60 minutes alone.
'Opportunists' pushing protocol changes are BTC's biggest threat: Saylor
Major changes to the Bitcoin protocol should be well-thought-out and rare, Strategy co-founder Michael Saylor previously said.
New Jersey Man Gets 12 Years After Using Bitcoin to Pay Chinese Fentanyl Suppliers
Prosecutors say the conspirators moved fentanyl analogues, MDMA, methylone, and ketamine, distributing bulk drugs and fake pills.
Move Details
Explanation Confidence
High confidence in the explanation based on source reliability and timing.