Bitcoin peels back to $62K as Fed-wary futures traders cut risk: Is the BTC rally over?
Bitcoin trades just above $62,000, down nearly 2% in 24 hours as global risk-off sentiment hits markets. The main drag comes from a selloff in semiconductor and AI stocks, higher oil after US-Iran tensions, and caution ahead of the Fed’s June meeting minutes. Traders are watching whether the Fed signals any shift on inflation or rate cuts; markets expect about a 73% chance of no rate change on July 29. Bitcoin sentiment flipped from buying to selling: futures and spot saw strong net buying on Monday, then heavy selling by Wednesday as risk appetite faded. Funding rates and open interest fell, and liquidations were mostly long positions. A large liquidation cluster sits near $61,000, which could intensify downside if reached. Despite ETF and spot demand, price action remains largely futures-driven, and crypto sentiment is still in “fear.”
