🧐 What happened in detail

1. Excess leverage
   
   After the rate cut by the U.S. Federal Reserve, there was quite a bit of speculation: many investors took large positions with leverage (i.e., using debt or loans). When prices start to fall slightly, those positions can trigger automatic liquidations (stop-loss, margin calls), which accelerates the decline. Barron's+1

   
   

   Broken technical support
   
   Bitcoin dropped from an important support level (~ US$ 115,000), which causes many to see warning signs. When technical support is broken, a more widespread sell-off is activated due to fear that the decline will continue.

   Decreasing liquidity
   
   In markets with high leverage, liquidity (buyers willing to buy at a certain price) can dry up when many try to exit at the same time. This deepens the declines.
   

   More cautious market sentiment / “risk off”
   
   There are signs that investors are less willing to take risks, especially in light of uncertain monetary policies. A rate cut can generate hope, but if the central bank's message is that they will be cautious (“risk-management cut”), some interpret that there will be no more stimulus soon, which may discourage holding risky positions. Barron's+1
   

   Cascade effect of liquidations
   
   As many positions were leveraged, when the decline begins, “margin calls” trigger automatic sales, causing other price levels to fall as well, leading to more liquidations. It’s a kind of domino effect.

NOT EVERYTHING IS LOST, I STILL SEE OPPORTUNITIES TO BUY, REMEMBER THAT PRICE DOES NOT MOVE IN ONE DIRECTION AND IS LIQUIDATING MANY WHO ENTER IN PANIC, I SEE CORRECTIONS OR RETROCESSES. KEEP HOLDING YOUR ACCOUNTS.