Bitcoin Slips 2% with $466M Crypto Liquidations, Analysts Warn of Sub-$60K Drop
Bitcoin slipped nearly 2% as new global tariffs and AI disruption fears rattled markets, leaving it about 50% below its October record high. Over $466 million in crypto positions were liquidated in 24 hours—half in Bitcoin—while market sentiment plunged to “Extreme Fear” and analysts warn of a sub-$60,000 bottom.
1. Market Slump on Tariffs and AI Fears
Bitcoin fell nearly 2% as investors reacted to a new 15% global tariff and renewed concerns over AI disruption in software and credit markets. The drop extends its decline to about 50% below its October all-time high, reflecting broad risk-off sentiment across equities and cryptocurrencies.
2. Record Liquidations and Fear Index Plunge
Over $466 million in crypto positions were liquidated in the past 24 hours, with Bitcoin accounting for approximately $233 million of those losses. Trading volumes surged by 86% for Ethereum, while the Crypto Fear & Greed Index plunged into “Extreme Fear,” signaling deep investor caution.
3. Analysts Forecast Sub-$60,000 Bottom
Leading cryptocurrency analysts, including Killa and Jelle, project that Bitcoin will break below $60,000, potentially reaching its cycle low in July or August. They cite historical pre-halving patterns and recent lower-low price action as key indicators for a mid-year trough.