Appart from the energy crisis in EU and property bubble in China, on 3rd November US FED will make an announcement regarding US interest rates. There is very high likelyhood it will go up from 0.25% to whatever percentage they feel is necessary. This is because US can no longer combat the hyperinflation, which is at record high for the last 13 years, currently at around 5.4%-5.7% and FED forecast it to go down to 4% by summer of 2022.
The key point here is - an increase in interest rates will have a negative effect on all the stock markets including bitcoin, which is currently very much correlated with them. Everything is going down!!!
According to COT (Commitments of Traders), in the last week, the big funds have increased their short positions by 20%, while small independent traders (hamsters dreaming of $100,000 bitcoin holy grail) increased their long positions by almost the same percentage.
On 21 October, some big whales tested BTC support levels - Binance US went down to $8,700, meanwhile Kraken went down to $54 100, and FTX went down to $58 500.
On 25 October over $2.3 billion worth of bitcoins have been taken out of exchanges. Usually when crypto is taken out of the market it suggests that investors realocate their crytpo into cold wallets, because they expect the price to go up. However, this is also done by the exchanges, who simply realocate funds as a barrier against a hactic sell off - especially after what happened on 21 October and a similar crash on gas futures from $1900 to $1100.
Other than that, BTC has been well oversold. On 2H BTC it's slowly forming head and shoulders. Also, there are at least 5-6 major SLs on the way to $45,000, against 1 SL above $67,000. Market Makers tend to go where most money is allocated and that's your SL.