Bitcoin: Drops Below $63,000 With $1.1B Liquidations

Bitcoin selloff accelerates, dropping below $63,000 for the first time since February 24th while over $1.1 billion worth of levered crypto positions liquidated in the past 24 hours.

Price at $63107.02 sits inside the Bollinger Bands with lower support at $62399.8, RSI(14) at 15.88 flashes deep oversold and MACD death cross at -2358.97 locks in bearish momentum below both EMA50 at $71192.57 and EMA200 at $75299.23, pointing to further downside risk before any relief rally develops.