Bitcoin experienced a sharp pullback in the spot market, driven by a combination of macro headwinds, risk-off sentiment, and crypto-specific dynamics. The latest notable moves include a drop below the $100,000 level, followed by a partial rebound near the $101k–$102k area, as traders weigh macro factors against the backdrop of continued fund flows and leverage liquidations. Key factors cited by market observers include Federal Reserve policy expectations, equity-market correlations, ETF and fund outflows from spot Bitcoin products, and technical indicators suggesting oversold conditions after the slide. Additionally, leverage and forced liquidations on crypto exchanges have contributed to rapid, sometimes violent price moves, amplifying near-term volatility. These elements collectively explain why Bitcoin has been "crashing" or undergoing meaningful downside pressure in the current window.

If you’d like, I can pull the latest price levels, compare intraday highs/lows, and summarize the main catalysts from credible sources in real time.