Bitcoin (BTC) fell sharply today due to a combination of factors. First, technically, Bitcoin lost an important support level at $64,000, leading to a large sell-off. In the past 24 hours, the market witnessed more than $521 million in liquidations, mainly from Long orders, causing the BTC price to continue to fall sharply. Many large orders were liquidated on the Binance exchange, causing the BTC price to reach $60,000 at times.
In addition, geopolitical tensions in the Middle East also negatively affected investor sentiment. The escalating conflict between Iran and Israel has increased instability in the global financial market, leading to a decline in the crypto market. In addition, expectations of monetary policies from the FED have also made many investors more cautious.
These factors put pressure on BTC, causing the price of this cryptocurrency to fall sharply recently.
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