Bitcoin is falling sharply because of a mix of macro fear, risk‑off sentiment, and crypto‑specific worries that are all hitting at the same time.
What is happening to the price BTC has dropped to roughly the mid‑60k USD zone, its lowest level since around October 2024, down about 40–50% from its recent all‑time high near 120k.
The move in the last few days alone has been steep, with single‑day drops of 10–13% being reported.
Main reasons for the crash Risk‑off in global markets: Tech and growth stocks are also selling off, so big funds are cutting exposure to all risky assets, including Bitcoin and altcoins.
Macro and geopolitics: Escalating geopolitical tensions (including U.S. actions involving Venezuela’s leadership) and uncertainty around global growth are pushing investors toward cash and safer assets.
“Crypto winter” narrative: After a long bull run and record highs in 2024, sentiment has flipped; media and analysts are again using the “crypto winter” label, which adds to fear and selling pressure.
Leverage washout: A lot of leveraged long positions were built near the highs; as price fell, liquidations accelerated the downside move (forced selling on derivatives platforms), magnifying the crash.
Profit‑taking by early entrants: Investors who bought much lower in 2023–2024 are locking in gains after a huge run, increasing supply on the market $BTC $ETH $BNB
$AAVE is clearly bearish here. $AAVE broke down from the descending channel and is now trading below the key midline/EMA area, which flips previous support into resistance. As long as $AAVE stays below the breakdown zone, sellers have control and any bounce is likely just a retest setup.
Short idea makes sense only if AAVE retests the broken channel support and gets rejected (bearish candle + volume). Invalidation is a clean reclaim back inside the channel (or above the retest level), otherwise downside continuation is favored toward the next demand/support below.