The Bitcoin price today experienced a sharp sell-off, dropping to $ 92,000 as global crypto markets declined by nearly 3%. The sudden drop shocked traders, but on-chain data and market structure suggest this move may be more of a leverage reset than the start of a full trend reversal.
Why Is Bitcoin Price Down Today?
Bitcoin’s drop was driven by rising global trade tensions. The European Union announced nearly $100 billion in retaliatory tariffs, which immediately pushed investors into risk-off mode. As a result, Bitcoin fell nearly 3%, while gold surged past $4,660, a clear sign that money was moving out of risky assets and into safe havens.
Markets were further shaken after former U.S. President Donald Trump threatened new tariffs targeting eight European countries. This added to uncertainty across global markets and increased selling pressure on crypto.
This triggered more than $850 million in crypto liquidations, mostly from bullish traders who were forced to exit their positions. The trade war worries and mass liquidations turned a normal pullback into a sharp Bitcoin sell-off.
The primary trigger came from traditional markets. U.S. stock futures opened lower amid rising U.S.–EU trade tensions, which immediately pressured risk assets. Crypto reacted instantly.
As Bitcoin slipped below key support near $93,000, a massive liquidation cascade followed.
According to CoinGlass, 241,209 traders were liquidated in the past 24 hours, resulting in a market loss of $863.97 million. The largest single hit was a $25.83 million BTC-USDT position on Hyperliquid.
Within just one hour, more than $545 million in long positions were liquidated, turning a normal pullback into a violent flash crash.
Exchanges and Whales Add to the Pressure
Blockchain data also shows heavy selling pressure from large players:
Insiders sold 22,918 BTC
Coinbase sold 2,417 BTC
Bybit sold 3,339 BTC
Binance sold 2,301 BTC
Wintermute sold 4,191 BTC
In total, over $4 billion worth of Bitcoin was sold within a short period, intensifying the panic and pushing the price through support zones without any meaningful bounce.
