Bitcoin's price is crashing today due to the following reasons ¹ ² ³ ⁴:

- *DTC denies collateral for crypto-linked ETFs*: The Depository Trust Company's (DTC) decision not to recognize crypto-linked exchange-traded funds (ETFs) as collateral for line-of-credit facilities has led to a decline in the valuation of the cryptocurrency market.

- *Bitcoin ETF outflows continue*: The U.S.-based spot Bitcoin ETFs have witnessed $421.8 million worth of outflows since April 24, contributing to a 4.75% drop in the crypto market capitalization.

- *Technical correction trend*: The crypto market's decline today is part of a correction trend that began on March 14, when the market valuation peaked for the session at around $2.721 trillion.

- *Federal Reserve's interest rate decision*: The Federal Reserve's decision to keep interest rates unchanged at 5.25%-5.50% has led to fears of higher-for-longer U.S. interest rates, causing a decline in Bitcoin and crypto prices.

- *Persistent inflationary pressures*: The recent PCE data indicated persistent inflationary pressures and Q1 GDP growth of 1.6% showed stagflation, leading to a correction in the crypto market.