Reasons for Bitcoin's sharp drop today: 1. Binance was hacked for $5.8 billion. 2. US stocks and gold fell, especially Google's plunge, triggering a chain reaction that dragged down Bitcoin. 3. The Federal Reserve is expected to raise interest rates by another 25 basis points in December, a macroeconomic negative. 4. Leverage liquidation; a large number of long positions below 80,000, including those held by "Big Brother Machi," were all liquidated.