Why is Crypto Down Today? Let’s Dive In
Why is crypto down today? Bitcoin price dropped to $109,000 following a $2.7 billion whale sale and $13.8 billion options expiry.
TLDR
Bitcoin dropped to $109,000 after a whale sold 24,000 BTC worth $2.7 billion, triggering $900 million in liquidations
A $13.8 billion Bitcoin options expiry today is creating market volatility and uncertainty
Ethereum faces selling pressure from a record $5 billion validator exit queue
Total crypto market cap fell 1.2% while trading volume dropped over 7%
Bitcoin is testing critical $112,000 support level that could determine future price direction
Bitcoin fell to its lowest level this month near $109,000 today following a massive sell-off by a large holder. The cryptocurrency market is experiencing widespread declines as multiple factors converge to create selling pressure.
A single whale transaction involving 24,000 Bitcoin worth approximately $2.7 billion triggered a sharp price decline. The sale caused Bitcoin to drop about $4,000 in minutes, erasing $45 billion from the total market capitalization.
The whale selling has created supply pressure that makes price recovery difficult. This type of large-scale selling by long-term holders often leads to forced liquidations of leveraged positions.
Market data shows the whale sale triggered approximately $900 million in forced liquidations across the crypto market. These liquidations create a cascading effect that pushes prices lower as positions are automatically closed.
Today marks a major $13.8 billion Bitcoin options expiry that is contributing to market volatility. Options expiries often create uncertainty as traders position themselves around key price levels.
The options expiry is being watched closely as a potential turning point for market direction. Large options expirations can drive short-term price swings depending on how positions unwind.
