Bitcoin price has declined sharply, reaching its lowest level since November 2024. The top crypto has dropped by over $12,000 within three days, leading to over $1 billion in leveraged long positions being liquidated. Several factors have contributed to this decline, including market uncertainty, selling pressure from large-scale liquidations, and concerns about economic stability. Bitcoin Price Falls Below 12% Bitcoin dropped to $83,500 on February 26, marking a 12% decline over the past seven days. The sharp decrease has resulted in substantial losses for traders holding long positions. Data from CoinGlass shows that the downturn led to the liquidation of over $1 billion in leveraged positions, increasing selling pressure. Following the liquidations, a recent CoinGape report has highlighted the top 4 crypto tokens to buy during the dip for long-term gains: XRP, Solana, Ethereum, and SUI. These altcoins, despite the recent downturn, are backed by institutional inflows and bullish fundamentals. Similarly, BTC price decline aligns with broader market fears, including concerns over a potential global economic downturn. Investors are shifting toward safer assets such as U.S. Treasurys and gold amid rising uncertainty. Gold prices initially surged but later dropped 2.2% as broader financial markets reacted to economic instability. Additionally, derivatives market activity has influenced Bitcoin price movement. Analysts have noted that the upcoming $5 billion Bitcoin options expiry on February 28 has led to increased volatility. The max pain level for options is around $98,000. This suggests that investors may attempt to keep Bitcoin price within a specific range. This Is Developing Story, Please Check Back For More The post Why Is The Bitcoin Price Dropping? appeared first on CoinGape .
