Bitcoin Plummets 2% as Investors Await Fed Signals and Economic Data

Bitcoin prices dropped nearly 2% on Tuesday, briefly dipping to $62,684 before recovering to around $63,660.

This sharp decline erased $134 million in leveraged long positions and contributed to $515 million in total crypto long liquidations.

The drop comes as investors await critical Federal Reserve signals from Chair Kevin Warsh's press conference and upcoming economic data, which could push Bitcoin toward $70,000 or down to $58,000.