Why Is Bitcoin Price Going Down Today?

Bitcoin slipped to $83,076.05, down 1.4% over 24 hours, as a wave of selling hit global markets. Over $550 billion was wiped out from gold and silver in just three hours, while Chinese stocks lost more than ¥1.21 trillion ($181 billion) as the Shanghai index fell 1.75% and the CSI 300 dropped to its lowest.