Why is Bitcoin price down today?

Bitcoin (BTC) price accelerated its sell-off on Nov. 21 to hit a new yearly low at $15,654. 

The move follows a market-wide decline that was catalyzed by investors running for the hills in fear that the FTX-induced contagion would infect every corner of the crypto sector.

Stocks also closed the day in the red, with the tech-heavy Nasdaq down 1% and the S&P 500 losing 0.42% on the back of investors’ concerns about rising interest rates.

Data from Coinglass shows over $100 million in leverage…

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