Bitcoin tests $63,000 in ‘extreme fear’; full-blown capitulation yet to come: analysts

Bitcoin extended its decline, testing $62,700 and reflecting broad deterioration in crypto sentiment driven by macro headlines and geopolitical uncertainty, pushing the Fear and Greed Index to 5. Analysts attribute the downturn to deleveraging and weak marginal demand, noting that crypto is underperforming traditional risk assets. This trend is further evidenced by continued net outflows from U.S. spot Bitcoin ETFs for the fifth consecutive week. Despite significant long liquidations, one analyst suggests this is a leverage flush-out rather than full capitulation, as longer-term holders are not yet selling en masse. The critical support zone for Bitcoin is $60,000-$63,000; holding above this could lead to a squeeze, but a break below $60,000 could trigger a deeper move toward the mid-$50,000s or even $47,000.

(Source：The Block)