Crypto
Bitcoin Slips Below $63K Amid ETF Outflows and Leveraged Long Pressure
Bitcoin has fallen below $63,000 to its weakest level since August 3, as spot ETFs posted net outflows of $192 million over two consecutive sessions.
The decline comes despite cooler U.S. inflation data, which lifted equities but failed to revive demand for cryptocurrencies.
Binance open interest and the price of Bitcoin fell together, with a correlation of 0.25, signaling that leveraged longs were being stopped out or liquidated.
Total crypto liquidations reached about $236 million, while Bitcoin volatility stayed subdued and bullish options remained active, despite warnings from CryptoQuant CEO Ki Young Ju that bull-market conditions have not aligned.