Bitcoin’s slide toward $60K sparks multi-cause debate: leverage, derivatives, and macro

As Bitcoin slid toward (and in some coverage, below) the $60,000 level, analysts and outlets converged on a common point: there wasn’t a single obvious “blow-up” catalyst. Instead, the sell-off is being framed as a multi-factor unwind—ranging from leverage and derivatives dynamics to broader macro and “regime shift” interpretations—making the move harder to pin on one culprit and, by extension, harder to time with confidence.