Is this a security issue “echo $password | ssh …”

Is this a security issue, if yes, why?

!#/bin/bash

# ...
read -s password
# Open an encrypted device on remote server
echo $password | ssh  -p $port -l $user $host "/usr/bin/sudo /sbin/cryptsetup luksOpen /dev/sdb1 backup"

#....

Thanks

Linux >= 5.15.0
SSH >= OpenSSH_8.9p1