Bitcoin Price Drops Below $105,000 Amidst US Bank Stress

Recent turbulence in the U.S. banking sector has triggered a wave of risk aversion across global financial markets, significantly impacting the cryptocurrency market. Bitcoin (BTC) experienced a sharp drop below $105,000 as investors responded to concerns about regional bank stress and potential contagion risks. 24-hour liquidations totaled over $1.19 billion across various derivatives markets, primarily driven by sell orders exceeding long positions. 200-day SMA support at around $107,520 has been crossed, raising questions about the future trajectory of Bitcoin’s price.