As BTC Tests $62,000, How Low Can Bitcoin Go?
Bitcoin fell sharply for a fourth day, dropping about 17% from near $74,000 to an intraday low around $61,556, with prices still near $63,680. The selloff triggered $4.47 billion in crypto liquidations in under four days, mostly from long positions. Market signals point to weakening demand: the Coinbase premium has stayed negative, options skew has turned more bearish, and open interest has declined as short pressure rose. ETF outflows and geopolitical तनाव, especially U.S.-Iran escalation, were cited as key drivers, along with a rotation of speculative capital into equities. Some indicators still show dip buying in spot order books, but several analysts warned Bitcoin could retest $60,000 and possibly fall toward the mid-$50,000s before a durable bottom forms. Long-term holder supply is at a record high, a pattern often seen in bear phases. A few strategists view the drop as a buying opportunity and expect institutional and ETF demand to remain structurally supportive.
