A sharp Bitcoin selloff liquidated approximately $1.5 billion in long positions across the crypto market, with the asset briefly falling below $62,000. Presto Research analysts link the drawdown to a broader macro rotation, noting that Bitcoin's declines this year have repeatedly coincided with rallies in AI stocks and gold. The pattern suggests investors are reallocating risk as markets reassess the timeline for Federal Reserve interest rate cuts. Reduced expectations for near-term monetary easing have strengthened the dollar and dampened appetite for speculative assets, pressuring crypto markets. The liquidation cascade amplified the move lower, wiping out leveraged long positions and raising questions about near-term support levels for Bitcoin as macro headwinds persist.
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