Bitcoin Slumps Below $60K Amid $650M Crypto Liquidations

Bitcoin's price slipped below $60,000 as it fell nearly 5% amid a broad selloff in cryptocurrencies and tech stocks. The decline triggered over $650 million in liquidations, primarily from long positions, while Ether also dropped below $1,600.

The total crypto market value declined to about $2.08 trillion, reflecting the wider weakness in risk assets including tech stocks and commodities.

Institutional outflows from Bitcoin and Ether ETFs added selling pressure, signaling cautious investor sentiment going forward.