Why is Bitcoin price down this day?

Why is Bitcoin rate down on the present time?

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BTC/USD
-4.41%
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BTC/USD
-4.36%
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The Bitcoin rate is down on the present time as cryptocurrency markets react to fresh FTX fallout and BTC bulls fail to defend already prone strengthen.

<em><span class="aqPopupWrapper js-hover-me-wrapper"><a href="https://www.investing.comhttps://www.investing.com/crypto/bitcoin/btc-usd" id="6401d2f266f55" class="aqlink js-hover-me" hoverme="aql" data-pairid="945629">BTC/USD</a></span> 1-day candle chart (Bitstamp). Source: TradingView</em>

Bitcoin (BTC) fell 5% in a single hour in a single day into March 3, dropping to its lowest ranges in over two weeks, data from Cointelegraph Markets Pro and TradingView shows.

<em>BTC/USD annotated chart. Source: Credible Crypto/ Twitter</em>
<em>BTC/USD annotated chart. Source: Skew/ Twitter</em>
<em>BTC liquidations chart. Source: Coinglass</em>

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