Bitcoin Price Plunges to $63k Amid Derivatives Squeeze and Miner Sell-Off
Bitcoin's price fell to $63,000 as leveraged long positions were forced to unwind due to a derivatives-driven long squeeze.
The market saw over $1 billion in liquidations since Monday, with over $262 million in total crypto liquidations in 24 hours and Bitcoin-specific longs accounting for $34 million.
This triggered a cascade of leveraged long positions being forcibly exited, with the Fear & Greed Index at 36, indicating bearish sentiment.
Riot Platforms sold 4,300 BTC to fund its AI data centre expansion, rather than relying solely on equity or debt issuance.
The sale is part of a wider reorientation of Bitcoin miners toward long-term AI and cloud infrastructure contracts, with public miners collectively selling over 32,000 BTC in early 2026 to finance similar deals.