Bitcoin Breaks $63K as Leverage Flush Hits $500M in Liquidations

Bitcoin slid below $63,000, touching $62,340 on some feeds, as a leverage flush wiped out more than $500 million in crypto positions over 24 hours. Ether dropped 5.49% to near $1,649. Roughly 80% of the liquidations came from long positions, meaning forced selling amplified the move below the key level.

The selloff tracked a broader risk-off move that hit equities and precious metals. Bitcoin falling with stocks rather than acting as a hedge confirms it still trades as a high-beta risk asset when leverage unwinds. This was not a crypto-specific event – the same de-risking hit gold and the S&P 500.

Separately, Metaplanet was removed from an S&P Japan index, and the tokenized real-world-asset market topped $51 billion. The spot-ETF outflows that have weighed on sentiment since late March continued, adding to the pressure.

For traders watching the liquidation cascade, the question is whether the flush clears enough leverage to stabilize prices or whether further downside follows if equities extend their losses. The 24-hour liquidation total is the highest in weeks, and the long-side concentration suggests the move below $63,000 was mechanical rather than driven by new fundamental news.

The crypto slide tracked the same risk-off tape that sent equities sharply lower. Bitcoin and Ether fell alongside metals, a sign the selloff was a broad de-risking rather than a crypto-specific event.