Bitcoin Selloff Accelerates, Drops Below $63,000 as $1.1B in Leveraged Positions Liquidated
Bitcoin has fallen below $63,000 for the first time since February 24, with over $1.1 billion in leveraged crypto positions liquidated in the past 24 hours.
BTCUSD
Bitcoin's selloff intensified, pushing the price below $63,000 for the first time since February 24. The decline triggered a wave of forced selling, with more than $1.1 billion in leveraged crypto positions liquidated over the past 24 hours.
The sharp drop reflects mounting selling pressure across digital assets, as long positions were unwound. The liquidation cascade has further accelerated the downturn, raising concerns about additional downside risk in the short term.
Source: The Kobeissi Letter