Bitcoin sinks below $65,000 as macro shocks rattle fragile market: analysts

Bitcoin (BTC) and other major cryptocurrencies experienced a significant decline on Sunday evening, resulting in $360 million in liquidations. Bitcoin dropped over 4% to near $64,700, while Ether, XRP, and Solana also saw substantial losses. Analysts attribute this downturn to a combination of macro factors, including violence in Mexico following the death of a cartel leader, a record low in U.S. pending home sales, and Donald Trump’s announcement of increased tariffs. The market was already vulnerable due to five consecutive weeks of ETF outflows and declining spot volumes. Despite the current downturn, some analysts point to positive signals like whale accumulation of Bitcoin and the potential for regulatory clarity through the CLARITY Act as possible catalysts for a rebound, with support levels to watch around $60,000.

(Source：The Block)