Bitcoin (BTC) climbed back above $63,000 on Monday, recovering after a sharp selloff dragged the token to its lowest level of 2026.
Key Points:
- Bitcoin traded near $63,200, up about 3% after slipping below $60,000 on Friday.
- The token lost more than 17% over the week, while the wider market shed roughly $390 billion.
- Nearly $7 billion in leveraged positions were liquidated during the rout.
Bitcoin Reclaims $63,000 Level
The world's largest cryptocurrency traded near $63,230 on Monday morning, up roughly 3% on the day, after briefly slipping below the closely watched $60,000 mark two days earlier, figures showed. The bounce capped one of the harshest weeks for digital assets since the collapse of FTX in late 2022. Buying volume on the rebound stayed thin, a sign that conviction across the market remained shaky.
Bitcoin shed more than 17% across the week, while Ether (ETH) dropped about 20% and most major altcoins tumbled alongside them. The broader digital asset market lost close to $390 billion, pushing total crypto value down to just above $2 trillion.
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Strategy Sale, ETF Outflows Weigh
Forced selling deepened the damage. Nearly $7 billion in leveraged positions were wiped out over the week, the steepest run of forced liquidations in months. Long bets made up about $5.7 billion of that total.
Adding to the unease, Strategy disclosed it had sold Bitcoin for the first time since 2022. The transaction covered just 32 BTC worth about $2.5 million, yet it rattled investors who had long viewed the firm as a dependable source of demand for the cryptocurrency.
Spot Bitcoin ETF outflows added to the pressure, extending a record streak of investor withdrawals that has stretched for weeks. Market watchers have also pointed to capital rotating toward artificial intelligence, as investors chase AI infrastructure, chipmakers and a queue of anticipated technology listings. The decline then accelerated after U.S. employers added more jobs than forecast on Friday, lifting Treasury yields and hardening bets that the Federal Reserve will keep rates higher for longer.
Banks Advance As Bitcoin Steadies
Even with prices reeling, blockchain adoption pushed forward. JPMorgan Chase, Bank of America, Citigroup and other lenders outlined a shared tokenized deposit network slated for 2027, a system built to move customer deposits across blockchain rails with around-the-clock settlement.
Bitcoin's recent stretch has been punishing. The token slipped below $60,000 for the first time in months this week and fell as low as about $59,000, its weakest mark of the year. That bottom sat more than half below the record high reached in October 2025, a reminder of how quickly this year's rally has come undone.
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