Bitcoin drops below $62,000 as $1.5 billion in longs get wiped out and ETF outflows hit $4.4 billion

The immediate trigger was a cascade of forced selling: $1.5 billion in leveraged long positions — bets that prices would rise — were liquidated in 24 hours as Bitcoin broke below $62,000. When traders borrow to buy and prices fall sharply, exchanges automatically close those positions, which pushes prices down further and triggers more liquidations. That self-reinforcing loop explains why the drop was so broad and so fast. Underneath the liquidation event, a longer-running pressure has been building. ETFs tracking Bitcoin, Ethereum, Solana, and XRP have now seen net outflows for 13 straight sessions, totaling $4.4 billion withdrawn. That sustained institutional selling removes a consistent source of buying pressure that had supported prices earlier in the year. Hyperliquid's ETF was the lone exception, staying in positive territory — a detail that stands out given how uniformly negative the rest of the flow picture has been. Solana was among the hardest hit in the top 15, falling 8.45%, while Zcash dropped 11.46% — both moves consistent with smaller-cap assets amplifying Bitcoin's direction in a risk-off session. NEAR Protocol led all losers with a 17.26% drop after its founder issued a public warning about potential ecosystem failures, adding a project-specific catalyst on top of the broader market pressure. The Fear & Greed index at 12 — Extreme Fear — reflects how thoroughly sentiment has shifted from the optimism of earlier months.

• –Cardano fell below $0.20 after founder Charles Hoskinson announced he is taking a break, citing concerns about potential ecosystem failures — echoing the founder-driven selloff seen in NEAR Protocol on the same day.
• –Hyperliquid's ETF was the only major crypto ETF to stay in positive flow territory across the 13-session outflow streak that drained $4.4 billion from BTC, ETH, SOL, and XRP funds.
• –Worldcoin bucked the market-wide selloff with a 7.35% gain, the strongest move among tracked assets, on positive ecosystem news — though no specific product announcement was cited.