Just been watching the market today and honestly, why did crypto just drop like this? Bitcoin's trading lower, and basically everything followed it down. The thing is, this isn't some random news story - it's liquidations cascading through the system. Saw that over $237 million in BTC long positions got wiped out just today, and when you look back over the past month, liquidations are sitting above $4 billion. That's serious deleveraging happening.

The real reason why did crypto just drop comes down to leverage unwinding. Open interest in perpetual futures dropped about 4.4% in a single day, which tells you how fast people are cutting risk. Add in some concerns about large holders' unrealized losses, and you've got a market that's already nervous. Bitcoin's the key here - if it can hold support, we might stabilize. But until that happens, altcoins are getting hit hard and volatility is staying elevated. This is why did crypto just drop today, and it's not over until the selling pressure eases.