The Bitcoin price crash today has turned the broader crypto market blood red, just days after its strong October run.

Bitcoin BTCUSD fell nearly 3% to around $83K after reaching ~$86K earlier this week, while dragging the major altcoins. The Ethereum ETH price dropped more than ~5% to ~$2.56K, the XRP XRP price fell about 5% to ~$1.42, and the Solana SOL price also crashed more than ~3% to ~$116.69.

So, why is Bitcoin falling? Leverage appears to have turned the sell-off into a crypto market bloodbath. According to the CoinGlass data, 1.25M traders liquidated over the past 24 hours, with total liquidations reaching $717.58M.

Bitcoin liquidations alone totaled about $185.83M, including $174.95M in long positions. The largest single…