Bitcoin Slides Below $63,000 as Crypto Market Sells Off in ‘Extreme Fear’

Bitcoin fell to a low of $62,700 late Monday before recovering to $63,220 as of 1:30 a.m. ET Tuesday, according to The Block’s bitcoin price page. Over the past 24 hours, the asset declined 3.36%. The overall crypto market dropped 3.42%, bringing total market capitalization down to $2.25 trillion.

Market Decline and Risk-Off Sentiment

Major altcoins tracked bitcoin’s drawdown. Ether fell 2.5% to $1,828, XRP traded 1.5% lower at $1.33, and Solana declined 2.3% to $76.8. The move follows a 4% pullback in bitcoin on Sunday that pushed its price below $65,000.

Min Jung, associate researcher at Presto Research, said bitcoin’s drop below $63,000 “appears to reflect a broad deterioration in crypto sentiment rather than a single fundamental catalyst.” Jung highlighted that macro headlines, including tariffs and renewed geopolitical uncertainty, are reinforcing a risk-off tone across digital assets.

The Fear and Greed Index stood at 5 at the time of writing, described as one of the most bearish psychological environments in crypto history. Cited macro headwinds contributing to the fragile sentiment included violent riots in Mexico and U.S. pending home sales falling to a record low.

Flows, Leverage and Key Technical Levels

Jung also noted that crypto has recently underperformed traditional risk assets, which have remained relatively resilient. This divergence is seen as indicating not only macro pressure but also “weak marginal demand, thinner liquidity conditions, and continued deleveraging within crypto native markets.”

The trend is reflected in continued outflows from U.S. crypto exchange-traded funds. Spot bitcoin ETFs have recorded five consecutive weeks of net outflows, the longest such streak since March 2025. On Monday alone, spot bitcoin ETFs saw $203 million in net outflows, while ether ETFs recorded $50 million withdrawn.

Andri Fauzan Adziima, Research Lead at Bitrue, characterized the current downturn as a leverage flush-out rather than full capitulation. Adziima pointed to “massive long liquidations,” persistent negative funding rates, declining open interest, and a bearish skew in futures, while noting that longer-term holders have not been selling heavily, with some on-chain indicators showing quiet accumulation.

Adziima identified the $60,000–$63,000 range as a critical support zone for bitcoin. A hold above that area could, in his view, set the stage for a post-flush squeeze, potentially aided by any improvement in macro conditions or a return of ETF inflows. Conversely, a break below $60,000 could, in a worst-case scenario, open the way toward the mid-$50,000 range or even $47,000 as liquidations accelerate, potentially forcing long-term holder capitulation and extending the bear phase.

FAQ

How much has bitcoin fallen in the last 24 hours?
Bitcoin declined 3.36% in the past 24 hours, dropping to a low of $62,700 before recovering to $63,220 as of 1:30 a.m. ET Tuesday.

What is the current state of crypto market sentiment?
The Fear and Greed Index stood at 5, indicating “extreme fear” and one of the most bearish sentiment environments in crypto history.

What is happening with U.S. crypto ETFs?
Spot bitcoin ETFs have logged five consecutive weeks of net outflows, including $203 million in net outflows on Monday, while ether ETFs saw $50 million withdrawn the same day.

Why is the $60,000–$63,000 range important for bitcoin?
Analyst Andri Fauzan Adziima views $60,000–$63,000 as a key support zone; holding above it could facilitate a short squeeze, while a break below $60,000 could, in a worst-case scenario, lead to deeper declines and potential capitulation by long-term holders.