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$BTC Bitcoin at $62,826: 120,000 Liquidations as Chips Change Hands
13 days of ETF bleeding—$4.4 billion out. RSI at most oversold since 2020. Yet institutions keep accumulating.
In the past 24 hours, Bitcoin briefly touched $61,300 and now sits at $62,826, down 2.6%. The futures market saw $1.25 billion in liquidations, wiping out roughly 120,000 traders. The Fear & Greed Index has plunged to 12—Extreme Fear.
Three headwinds are converging:
Spot ETFs have posted 13 consecutive days of net outflows, losing a total of $4.4 billion. The odds of the U.S. CLARITY Act passing continue to fade, undermining the policy-driven bull case. SpaceX is launching its largest-ever IPO (≈$75 billion), and together with AI chip stocks sucking up liquidity, the crypto market is feeling the squeeze.
But bottom signals are flashing just as intensely:
The daily RSI has dropped to 17.8—the most oversold level since 2020. Bitcoin has touched the 200-week moving average (around $61,600), a level that marked the bottom of previous bear markets in 2015, 2018, and March 2020. Over 10.5 million BTC (more than half the total supply) is now in loss—a first for this cycle.
The key question: Who is buying?
Since March 2024—the last time Bitcoin traded near $63,000—ETFs have accumulated 509,000 BTC, while Strategy has bought 650,000 BTC. That's over 1.24 million BTC absorbed by institutions—nearly half of all exchange reserves, and even more than Satoshi's holdings. As CryptoQuant's CEO put it: "What ultimately matters is who holds it."
Pessimists are right. Optimists get paid. When "Extreme Fear" floods your feed, on-chain data still points to the classic playbook—
Be fearful when others are greedy. Be greedy when others are fearful.
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At press time, Bitcoin is trading at approximately $62,826, down 2.6% in 24 hours.#比特币ETF连续13日净流出 #非农就业数据将于今日公布:预计8.5万 #Anthropic:IPO进程推进,呼吁暂缓前沿AI开发 $ETH $SOL
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