Bitcoin Falls to $62,800 in Asian Leverage Flush as AI Trade Drains Risk Capital

1 articles · Updated · CoinDesk · Jul 13

$62,800 marked bitcoin's low on Monday after it slid from about $64,300 in Asian trading, leaving it down 1.4% over 24 hours.
CoinDesk and CoinGlass data pointed to a routine leverage flush rather than fresh news, with liquidations only about one-sixth of the market's worst reading in the past 30 days.
Bitcoin has still stayed inside its roughly $59,000-to-$66,000 range for the past month, suggesting the drop was a shakeout within an established band.
Anchorage Digital analysts said about 30% of recent pressure on bitcoin reflects capital rotating into AI, a theme that has also tied crypto direction to chip-stock risk appetite.
July 14 U.S. inflation data and the Fed's July 28-29 meeting are the next major tests for whether bitcoin and other risk assets get relief or another leg lower.

Sources

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