Bitcoin's fall sends crypto market, related-stocks into bloodbath: Why?

The Bitcoin price crash today has turned the broader crypto market red, just days after its strong October run.Bitcoin fell nearly 3% to around $83K after reaching ~$86K earlier this week, while dragging the major altcoins. The Ethereum price dropped more than ~5% to ~$2.56K, the XRP price fell about 5% to ~$1.42, and the Solana price also crashed more than ~3% to ~$116.69.So, 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 liquidation was an ETHUSDC position worth $26.64M on Binance.The fall quickly spread to . Strategy stock fell ~6.67%, Coinbase Global and Circle Internet Group both declined ~4%, and Robinhood Markets fell ~2.73%.Moreover, Hut 8 , CleanSpark , Riot Platforms , Sharplink , Bitmine Immersion , and Bullish also declined.The reason behind the overall crypto market crash is not only leverage but also macro pressure. Fed minutes pointed to the possibility of another rate increase this year, while the remained around 5.27% and the 30-year yield reached 5.70%, its highest level since 2002.Overall, today's market breakdown has abruptly interrupted Bitcoin’s recent bullish momentum and revived concerns over another October flash crash.Content provided by Seeking Alpha is intended for information purposes only, and that Seeking Alpha does not offer any personalist investment advice and is not a licensed securities dealer, broker, US investment adviser or investment bank.