There has been downward pressure on the BTC price in the last 24 hours; deterioration in global risk perception, geopolitical uncertainties, and especially leveraged position liquidations have pushed the price below $93,000. Long positions held with high leverage increased selling pressure and this led to negative weather across the market.
Liquidations are also triggered in such bearish waves; as high-leveraged traders are forced to close their positions, the selling pressure rises further and the red color dominates the BTC and altcoin market. These dynamics increase volatility while triggering short-term price jams.