Crypto's worst two-day liquidation in months deepens as investors chase the AI trade elsewhere
Summary
Crypto markets fell sharply on Thursday as selling pressure and liquidations hit leveraged positions. Bitcoin dropped to about $61,300 before rebounding to roughly $64,680, then traded near $62,500. Ether fell about 3% to around $1,750, while some altcoins, including NEAR, ZEC, and JUP, lost more than 13%. The move triggered about $1.7 billion in forced futures liquidations, including $750 million in bitcoin and $390 million in ether. The decline was linked to investors rotating toward the AI trade in traditional markets, plus broader geopolitical uncertainty and lingering weakness from October’s leverage wipeout.
