<ul><li>Bitcoin (BTC) price dropped below $70,000, declining by approximately 5.7% in the past 24 hours.</li><li>Key factors behind the decline include risk-off sentiment ahead of the US election, correlation with the S&P 500 losing its 3-month trendline, and a significant unwinding of leveraged positions in the markets.</li><li>Bitcoin has been considered a 'Trump hedge' due to the former president's advocacy for the cryptocurrency sector, and its price decline coincides with a narrowing lead for former President Donald Trump in prediction markets.</li><li>Over the past 24 hours, 93,864 traders were liquidated, with total liquidations amounting to $286.73 million.</li></ul>

Bitcoin Price Slides Below $70,000: These Are The Key Reasons

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