BTC Crashes Below $63K, $600M Wiped Out

Bitcoin tumbled below 63,000 dollars today, deepening a month‑long correction and triggering another wave of leveraged liquidations across the crypto market. The move comes as risk appetite deteriorates on the back of fresh tariff headlines and broader macro uncertainty weighing on speculative assets.

Bitcoin price and liquidations

During Asian trading hours, BTC briefly slipped under 63,000 dollars and was last seen hovering just above that level, down around 7 percent on the week and trading near prices last visited in early February when the market almost tested 60,000 dollars. The drop extends a broader drawdown that has already erased nearly half of Bitcoin’s value since its October 2025 peak above 120,000 dollars.

The downside move was amplified in derivatives markets, where crowded long positioning has been steadily building. Over the past 24 hours, forced liquidations across major exchanges reached roughly 370 to 380 million dollars, with the majority coming from long positions being wiped out as prices accelerated lower.

Recent data shows that in similar sell‑offs this year, long liquidations have repeatedly accounted for the bulk of more than 600 million dollars in positions flushed from the system, underscoring how fragile highly leveraged bullish bets have become.

Macro headwinds and sentiment

Beyond market structure, macro headlines are adding pressure. A renewed wave of trade tensions, including a temporary 15 percent tariff move by the U.S. administration under President Donald Trump, has sparked a broader “risk‑off” tone across global markets, hitting both equities and crypto in tandem. At the same time, uncertainty around the economic impact of artificial intelligence and tighter policy responses has further undermined confidence in high‑beta assets like Bitcoin.

Sentiment indicators reflect this shift. The Crypto Fear & Greed Index has slumped into “extreme fear” territory, a zone historically associated with capitulation phases in past cycles. With BTC now edging toward the psychologically important 60,000‑dollar support, several analysts warn that a decisive break below that area could open the door to a deeper correction toward the low‑50,000s.

Altcoin prices under pressure

Altcoins are following Bitcoin lower, though in a more orderly fashion. Ethereum is trading around 1,820 to 1,845 dollars today, down roughly 1 to 2 percent over the last 24 hours and slipping from its recent range highs as traders de‑risk. The second‑largest cryptocurrency remains far below its all‑time high near 4,950 dollars, leaving plenty of overhead resistance if risk sentiment fails to recover.

High‑beta layer‑1 tokens like Solana and Cardano are also feeling the strain. Solana is changing hands near 77 to 78 dollars, down about 11 percent on the week and effectively revisiting its early‑2024 accumulation zone, while Cardano trades close to 0.26 dollars on rising volumes. Together with the broader market’s 1.6 percent slide over the past day, the picture is one of synchronized risk reduction rather than a Bitcoin‑only event.

What traders are watching next

Heading into the coming sessions, traders are closely monitoring whether Bitcoin can hold the 60,000‑dollar region, which many see as the next key battleground between bulls and bears. A stabilization of liquidations, a rebound in spot demand, and any easing in macro tensions would be early signs that the current flush is nearing exhaustion, while another spike in long wipe‑outs could quickly turn today’s slide into a deeper leg lower.