Bitcoin fell to $62,000 as a broader macro-driven sell-off swept through risk assets, with the U.S. dollar climbing to multi-month highs.

Investors are now focused on Thursday’s PCE inflation report, a key indicator for future Federal Reserve policy.

Notable Statistics:

• Coinglass data shows 137,225 traders were liquidated in the past 24 hours for $649.88 million.      
• SoSoValue data shows net outflows of $68.2 million from spot Bitcoin ETFs on Monday. Spot Ethereum ETFs saw net outflows of $66 million.
• In the past 24 hours, top gainers include DeXe, Audiera and Algorand.

Notable Developments:

• Bitcoin Could Start A Catch-Up Rally—But The Fed Has To Play Ball, Bitwise’s Matt Hougan Says
• BlackRock: ‘AI Is Sucking All The Oxygen Out Of The Room’—And Bitcoin Is Choking On It
• Coinbase Is A Potential $1 Trillion Company, Dan Tapiero Says: What Do Prediction Markets Say?
• Solana ETFs Are Turning 6% Staking Yield Into A Superpower
• Bitcoin Plunges To $62,000: Is The Worst Of The Bear Market Still To Come?
• 4 Reasons To Stay Bullish On MSTR Even If Michael Saylor’s Bitcoin Engine Is Stuttering
• Ripple Gets MiCA Approval Across 30 EU Countries, But XRP Plunges To $1.10

Trader Notes:

Crypto analyst Kevin expects one final major Bitcoin correction between July and October, aligning with a broader bearish roadmap.

The projected decline would clear long-position liquidity, fulfill the bear flag’s measured move target, test key moving averages and the 0.5 Fibonacci retracement level, potentially marking the cycle bottom before a recovery begins.

Crypto chart analyst Ali Martinez identifies the $60,000–$63,000 range as Bitcoin’s most important support zone, with more than 1.3 million BTC transacted there, making it the largest on-chain volume cluster.

Holding above $60,587 would preserve the current trend, while a breakdown could expose downside targets near $46,700 and potentially $37,900, where significant historical buying activity occurred.

Image: Shutterstock