Bitcoin Eyes Fresh August Lows With Binance Longs Under Pressure

TL;DR

• Bitcoin fell below $63,000 to its weakest level since August 3 as spot ETFs posted $192 million in two-day net outflows.
• Binance open interest and BTC price fell together, with correlation at 0.25, signaling leveraged longs were being stopped out or liquidated.
• Total crypto liquidations reached about $236 million, while Bitcoin volatility stayed subdued and bullish options remained active despite Ki Young Ju’s warning that bull-market conditions have not aligned.

Bitcoin slipped below $63,000 on Friday, returning to its weakest level since August 3 as fading momentum and fresh ETF outflows kept pressure on the market. Spot Bitcoin funds recorded $192 million in net redemptions across two consecutive sessions, their first back-to-back drawdown since late July. The uneasy part is that cooler U.S. inflation data lifted equities but failed to revive crypto demand. Producer prices cooled to 4.7%, helping the S&P 500 and Nasdaq 100 rally, yet BTC still erased last week’s gains as traders searched for a stronger bullish catalyst for the market ahead.

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