Analysis: Crypto Market May Face Prolonged Turbulence After Bitcoin Breaks Below $63,000

Odaily News Bitcoin once fell to around $62,700 before stabilizing near approximately $63,200, with a daily decline of about 3.4% and a weekly drop nearing 7%. The total market capitalization of the crypto market retreated to around $2.25 trillion, indicating overall sector-wide pressure. Multiple analysts pointed out that this round of selling appears more like a leverage unwinding and tactical retreat rather than a comprehensive collapse of long-term conviction. Short-term holders faced concentrated liquidations, with hundreds of millions of dollars in positions being forcibly closed; funding rates turned negative and open interest continued to decline. On-chain signals indicate that some long-term holders are still holding or quietly accumulating. A researcher from Presto Research stated that Bitcoin's fall below $63,000 stems more from a general loss of confidence rather than being triggered by a single event. On a macro level, factors such as U.S. tariff uncertainties, geopolitical tensions, and weak real estate data have combined to reinforce risk-averse sentiment. In contrast, traditional markets have shown greater resilience, while liquidity contraction and deleveraging issues are more pronounced in the crypto sector.

The current market is in a critical equilibrium zone. If the $60,000–$63,000 range can be defended, coupled with oversold recovery and short covering, a phased rebound may occur; if it breaks down effectively, it could trigger a new round of liquidations and test the holding willingness of long-term holders. The market is closely monitoring sentiment indicators, ETF fund flows, and the movements of global risk assets to determine the next direction. (Crowdfundinsider)