Bitcoin Rejected After Multi-Day Peak, Sheds Nearly $3K in a Violent Downturn

TL;DR

• Bitcoin fell nearly $3,000 from Monday’s $65,600 high, briefly reaching $63,000 as roughly $700 million in leveraged positions were liquidated.
• South Korea’s Kospi plunged about 11%, while the U.S. Senate postponed the Crypto Clarity Act, weakening risk appetite before the Federal Reserve decision.
• Ether dropped below $1,900 and the crypto market lost $80 billion, as derivatives data showed bearish taker volume, negative funding and capital outflows.

Bitcoin’s relief rally unraveled abruptly after the cryptocurrency reached a multi-day high near $65,600 on Monday. Within hours, sellers pushed BTC down almost $3,000 to roughly $63,000, its lowest level in 10 days, before a modest rebound toward $63,400. The rejection transformed a geopolitical relief bounce into a sharp market-wide reversal. Around $700 million in leveraged positions were liquidated as momentum flipped, while Bitcoin’s market capitalization fell to approximately $1.72 trillion. The speed of the decline left traders confronting how quickly optimism can disappear when liquidity remains fragile across crypto markets.

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