The Moon appears so low tonight because of a natural astronomical cycle called the "major lunar standstill" or "lunistice," as well as Earth's tilt and the Moon's orbit inclination. Around certain times of the year, especially near the Summer Solstice and during the current phase of the Moon's 18.6-year nodal precession cycle, the Moon's highest elevation in the sky during its daily path (culmination) is much lower than usual. This causes the Moon to appear closer to the horizon even when it is at its highest point in the night sky. This low position can also make the Moon look larger and more orange due to the light passing through more atmosphere near the horizon. This phenomenon will continue for some years, with the Moon's elevation increasing again after reaching this low point.
In short, the Moon's low position tonight is caused by the combined effects of the Earth's axial tilt, the Moon's orbital mechanics (an 18.6-year cycle), and seasonal timing.