Bitcoin Slumps to $62,000, Erasing Months of Gains

The scale of the liquidation skew — overwhelmingly longs — suggests this was a positioning unwind rather than a fundamental repricing, which matters more than the headline drawdown itself. The breadth of altcoin losses, with double-digit declines across SOL, HYPE and UNI, points to deleveraging cascading through the risk curve rather than a bitcoin-specific event. With bitcoin at its lowest since July, the open question is whether forced selling has run its course or whether thin liquidity keeps amplifying moves. The concentration among so many traders liquidated is the detail worth tracking.