Bitcoin Price Plummets Below $63,000 Amid Global Crypto Crash

The global digital asset market is experiencing a severe crypto crash, with Bitcoin's price plummeting below $63,000. This decline has been attributed to a combination of macroeconomic pressure, institutional sell-offs, and a correlation with high-growth technology stocks.

One factor contributing to the crash is the recent announcement by President Trump of a new 15% global tariff framework. This move has led to a 'risk-off' environment, causing investors to flee volatile assets like Bitcoin in favor of traditional safe havens like gold and silver.

Another factor is the depletion of Bitdeer's entire Bitcoin reserve, which has signaled a lack of confidence in near-term price recovery. Additionally, the Coinbase Premium has turned deeply negative, suggesting that U.S. institutional investors are leading the exit while retail traders are left holding the bag.

The correlation between Bitcoin and high-growth technology stocks is also contributing to the crash. As investors question the ROI of massive AI expenditures, a 'software-mageddon' has hit the NASDAQ, forcing hedge funds to liquidate their most liquid assets—often Bitcoin—to cover margin calls on their equity portfolios.

With the $63,000 level breached, analysts are now looking at the psychological $60,000 mark as the final line of defense. A daily close below this could trigger a capitulation event. The crypto crash has not been limited to Bitcoin, with other altcoins like Ethereum struggling to stay above $1,800.