Bitcoin
Why Bitcoin is down 7.2% today
Analysis
Bitcoin fell 7.2% over the past 24 hours as selling pressure intensified alongside reports of BTC sliding toward $70,000, with CoinDesk noting ETF-flow and on-chain signals that traders interpreted as increasingly bearish while markets also priced in expectations the Fed holds rates in April. The drop was amplified by liquidation-driven volatility highlighted in coverage of broader liquidation stress and bearish commentary, including Michael Burry’s “death spiral” remark and Cramer’s reaction to the crash.
Contributing Factors (3)
Bitcoin slides toward $70,000 as on-chain data flags bear market and traders bet Fed holds in April: Asia Morning Briefing
On-chain data points to fading demand and tighter liquidity, while prediction markets show little expectation of near-term rate cuts.
'Big Short' Michael Burry flags “death spiral” after silver liquidations beat bitcoin
Tokenized silver futures logged one of the largest wipeouts across crypto markets, overtaking the usual leaders bitcoin and ether.
'Code Red': Cramer Reacts to Latest Bitcoin (BTC) Price Crash
The Bitcoin plunge has triggered nearly $680 million in long-position liquidations in just 24 hours.
Move Details
Explanation Confidence
High confidence in the explanation based on source reliability and timing.