TL;DR
- Bitcoin Breakdown: Bitcoin trades near $63K after a sharp rejection above $70K, with liquidations accelerating the decline and pushing the market toward levels last seen in early February.
- Macro Pressure: Fresh tariff headlines and uncertainty around AI’s economic impact have triggered a broad risk‑off shift, sending the Crypto Fear & Greed Index into extreme fear as traders brace for a potential test of $60,000 support.
- Altcoin Slide: ETH at $1,800, XRP at $1.32, BNB at $587, and SOL at $72 all drop roughly 4 to 5%, contributing to a $150B market‑wide contraction.
Bitcoin’s latest slide has pushed the broader crypto market into another sharp drawdown, with the asset briefly dipping under $63K and extending a month‑long correction that has erased billions in value. The move reflects a rapid deterioration in risk appetite as traders react to fresh tariff headlines, renewed macro uncertainty, and a wave of forced liquidations that accelerated the downturn across major exchanges.
Bitcoin Extends Its Breakdown as Liquidations Surge
BTC’s rejection above $70,000 last week set the stage for a steady retreat, culminating in a swift drop from $67,700 to $64,400 once legacy futures markets opened. The asset now trades near $63K, down nearly 5%, marking its weakest level since early February. Derivatives markets amplified the decline, with long positions unwinding aggressively and contributing to hundreds of millions in liquidations over the past day.
The latest tariff developments, including a temporary 15% measure from the U.S. administration, have fueled a broader risk‑off shift that hit equities and crypto simultaneously. Traders are also grappling with uncertainty surrounding the economic impact of artificial intelligence and the potential for tighter policy responses. Sentiment gauges reflect the strain, with the Crypto Fear & Greed Index sliding into extreme fear territory as BTC edges closer to the key $60,000 support zone.
Altcoins Follow Bitcoin Lower in a Broad Market Pullback
Altcoins are sliding in tandem, though with varying degrees of severity. Ethereum is trading around $1,800, dropping nearly 5% as it slips from recent range highs. XRP is down to $1.32, also losing nearly 5%, while BNB trades at $587 after shedding close to 4%. High‑beta names like Solana have been hit harder, with SOL falling to $76 and extending its weekly losses.
The broader market’s synchronized decline has erased roughly $150B in value, with Bitcoin’s market cap falling to about $1.260 trillion and its dominance slipping below 56%. Large‑cap alts such as DOGE, ADA, and HYPE have posted drops of over 5%, while Bitcoin Cash leads the downside with an 11% slide to below $485, underscoring the depth of the ongoing correction.
