$BTC Bitcoin is down today mainly due to a mix of macroeconomic, geopolitical, technical, and sentiment-driven factors:

📉 Key Reasons

1. Fed rate‑cut expectations fading

After recent U.S. inflation data, hopes for a May/June rate cut have evaporated. Bitcoin dropped ~1.7% in 24 hours as markets priced in minimal likelihood of Fed easing before September .

2. Run into resistance around all‑time highs

BTC has stalled near $108 K–$112 K, prompting a technical pullback. The Relative Strength Index (RSI) also dropped below neutral (~40), hinting at short-term bearish momentum .

3. Geopolitical uncertainty

Rising tensions in the Middle East (Israel‑Iran) triggered risk-off sentiment. Cryptos, often viewed as risky assets, fell alongside stocks, even though gold surged .

4. Large liquidation events

A sharp plunge from above $106 K to below $103 K triggered about $450 M in long-liquidations, accelerating the sell-off .

5. Short-term consolidation/correction

BTC has entered a consolidation phase after an impressive rally to over $111 K in May. Markets are digesting that gain, and technical indicators show a short-term correction underway .