The drop in Bitcoin's price below $101,000 is partly due to high risk aversion generated by geopolitical tensions, such as the recent attack on nuclear sites in Iran, which has led investors to sell cryptocurrencies and seek refuge in safer assets.
Another factor is the massive liquidations.
Many traders with long positions were liquidated when BTC failed to break the resistance near USD 110,000, leading to a rapid and cascading sell-off.
Capital outflow
Significant withdrawals of Bitcoin and Ethereum to stablecoins like USDT have been recorded, indicating risk aversion and a lack of short-term confidence.
Bitcoin is declining due to global fear, massive sell-offs, and negative technical signals, although it is also known that large investors are starting to accumulate.
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