I am observing a significant selling pressure in Bitcoin today. The price, which recently dropped below 93,000, is now hovering around $72,000. It appears that the closing of large long positions continues in the market, and this clearly explains why cryptocurrencies are falling.

The problem is that when long positions worth $680 million suddenly start to be liquidated, such liquidations can trigger chain reactions. Stop losses are triggered, bots place sell orders, and then everyone is caught in a mess. If anyone is asking why crypto is falling, this is the reason.

The market is quite volatile right now. Some analysts say this is a technical correction, while others are looking at macro factors. Anyway, we will see what happens in a few hours. During such days, it's important to keep your positions well-controlled.