Why is Bitcoin dropping today? Four clear drivers of the $115k tumble
After weeks of climbing, Bitcoin is pulling back. The crypto giant has dropped a few points on the day, dragging the crypto market down with it.
Bitcoin (BTC) is currently trading around $115,630, down roughly 2.6% today. This is one of the biggest 24‑hour drops since hitting its all‑time high of about $123,100 earlier this month. The price slide brings its losses over the past seven days to approximately 3.9%, extending the downward slide that commenced earlier in the week.
The dip has painted the broader market red, with several altcoins and memecoins seeing even heavier losses. So, what’s behind the OG crypto’s drop?
Post-rally exhaustion and profit-taking
Bitcoin ran hot for weeks, notching fresh all-time highs almost daily just over a week ago. But that momentum has cooled. Investors are locking in gains, whales are rotating funds, and large holders are rebalancing their positions, all contributing to the ongoing drop in price.
This shift opened the floodgates for liquidations. In the last 24 hours alone, nearly $586 million in long positions were wiped out across the board, according to CoinGlass. Bitcoin led the flush with around $150 million as it dropped toward $115K.
When leverage unwinds like this, losses compound fast. Forced selling often drags prices lower, rattles confidence, and turns a normal pullback into something sharper.
