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Bitcoin dips below $63,000 in Asian-session leverage flush

Bitcoin traded around $62,800 Monday after falling from about $64,300 during Asian morning hours, with liquidations estimated near one sixth of the market’s worst level over the past 30 days.

Reported · Written up by our desk · Market Structure

Bitcoin slipped to about $62,800 Monday, moving down 1.4% over 24 hours after it fell from roughly $64,300 during Asian morning hours, according to CoinDesk data.

The decline was described as a leverage flush within Bitcoin’s month long trading band of roughly $59,000 to $66,000, with liquidations characterized as minor at about one sixth of the level seen at the market’s worst point over the prior 30 days, per CoinGlass.

CoinDesk also noted that nothing new appeared to be driving the move, even as crypto continued to trade like a higher beta risk asset tied to broader market sentiment tied to AI and chip names.

Looking ahead, CoinDesk said the June inflation release on July 14 and the Fed meeting on July 28 and 29 are among the events most likely to determine whether risk assets, including crypto, see relief or another downturn.

Latest closeBitcoin $62,981.94 ▼1.2%

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