Bitcoin falls below $62,000, triggering $1.5 billions in cryptocurrency liquidations

Presto Research stated that Bitcoin’s pullback this year has coincided with the rise of AI stocks and gold, as the market lowers its expectations for a Federal Reserve rate cut. In Hong Kong trading, Bitcoin fell below $62,000, triggering over $1.5 billion in leveraged crypto liquidations within 24 hours, including more than $800 million in Bitcoin and $386 million in Ethereum positions. US spot Bitcoin ETFs saw a net outflow of about $1 billion this week, continuing a record trend of capital withdrawals. Analysts believe that Bitcoin’s decline reflects competitive pressure from gold and AI stocks, and that future movements may depend on easing inflation pressures and renewed demand for liquidity-sensitive assets.