Why Bitcoin Dropped Below $63K: 5 Factors Driving the Crash

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Roughly 120,000 traders have been wrecked in the past 24 hours as liquidations mount.

Bitcoin’s price was rejected at almost $66,000 yesterday, and the crash has worsened over the past few hours, with the asset dumping below $63,000.

Most altcoins have followed suit, including many of the larger-cap ones, which has increased the total value of liquidations from over-leveraged positions.

Why Is Crypto Down Today?
After a calm weekend in which its price stood at around $64,000, bitcoin experienced minor positive volatility on Monday, jumping past $65,000 and tapping a multi-day peak at over $65,500. Its rather gradual ascent was stopped immediately, though, and the bears resumed control.

There are many possible reasons behind bitcoin’s drop. The ETF outflows continue, with another $68 million withdrawn from the funds on Monday. Many analysts claimed that the strengthening dollar is bad news for BTC, and the past few days have proven that. Additionally, online FUD has risen following reports that many OG investors have begun disposing of their bitcoin holdings.

US President Donald Trump signed an executive order advancing research and development of quantum computing, which is seen as a major threat to bitcoin and crypto.

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Connecting your Binance Futures account with a Cornix trading bot is quick and easy. The setup process takes only a few minutes, allowing you to automate trade execution while maintaining full control of your funds. No withdrawal permissions are required, helping enhance account security.

Automate your cryptocurrency trading strategy with Binance Futures and Cornix integration. Receive trading signals, execute trades efficiently, and stay connected to market opportunities 24/7.

Whether you're trading Bitcoin, Ethereum, or other digital assets, Binance Futures automation can help streamline your trading workflow and improve execution speed in fast-moving crypto markets.

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