Bitcoin suddenly slipped below $62,000 during Asia trading on Thursday, pushing crypto liquidations over the past 24 hours to $1.8 billion, according to CoinGlass data. Leveraged long positions made up $1.5 billion of those losses.
The selloff coincided with persistent withdrawals from US spot Bitcoin ETFs, which recorded around $397 million in net outflows on Wednesday, per Farside Investors. Investors have pulled about $1.4 billion from the funds so far this week, led by nearly $1.2 billion in net outflows from BlackRock’s IBIT.
Elsewhere, market participants tracked a 116-Bitcoin deposit from a Mt. Gox wallet to Bitstamp, following a separate $731 million transfer to a new address. The activity reignited speculation around pending creditor repayments before the October 2026 deadline.
At press time, Bitcoin traded at $64,628, marking a roughly 12% decline over the past seven days. Most major crypto, including Ether, BNB, and XRP, were also under pressure as the market extended its pullback.
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