Why are Bitcoin and crypto market down today?

• BTC’s price is currently hovering at about $108,068, a 2.62% decrease compared to the last 24 hours
• Over $400 million in liquidations occurred in the past 24 hours, pushing Bitcoin and major altcoins downward
• Long-term holders sold 405,000 BTC in the last 30 days.

Despite its strong momentum in early October, Bitcoin has recently slid below $110,000, pulling down the crypto market with it, which often causes worry for traders and investors.

Following the drop, Bitcoin’s price consolidated within a range of approximately $107,000 to $110,000, a zone representing a big psychological and technical support area. BTC’s price is currently hovering at about $108,068, a 2.62% decrease compared to the last 24 hours.

One of the main reasons why the price is down is due to over $400 million in liquidations occurring in the past 24 hours, pushing Bitcoin and major altco…

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