Bitcoin Crashes Below $63K: Trump Tariffs Trigger $470M Liquidation Event

The bleeding won't stop.

Bitcoin just crashed below $63,000 — its lowest level since early February — as President Trump's tariff bombshell and escalating Iran tensions triggered a massive risk-off cascade across crypto markets.

Let's cut through the noise: $470 million in liquidations. A 5% intraday dump. The largest cryptocurrency now sits 50% below its October high of $125,000.

What's Driving the Carnage?

This isn't a crypto-specific shock. This is macro ripping the rug out.

Trump's new tariff push — combined with his \"10 days\" ultimatum on Iran — has spooked global markets. The dollar index (DXY) is up 0.5%. U.S. equities are bleeding. And crypto, being the most liquid risk asset, is taking the first hit.

As Invesco's Christopher Hamilton put it: \"The move lower in bitcoin looks less like a crypto-specific shock and more like a classic risk-sentiment reset.\"

The Numbers Are Ugly

• BTC: Down 4.7% in 24 hours to $63,100. Touched $62,964 intraday.
• YTD: Bitcoin is now down 27% in 2026.
• From highs: 50% drawdown from October's $125K peak.
• Liquidations: $360M+ wiped in 24 hours, 90%+ were longs.
• Altcoins: BCH down 11.5%, SUI/APT/ATOM all off 5-8%.

The $60K Line in the Sand

Here's what traders are watching: $60,000 is the critical support level.

A break below $60K triggers another liquidation cascade and opens the door to $52,500 — a historical support level dating back to 2021.

Open interest in crypto futures has already dropped 4% to $92.5 billion as leveraged traders de-risk. Funding rates are negative across the board. The market is pricing in more pain.

Is This a Crash or a Flush?

RSI indicators are flashing oversold. DeFi TVL is holding up better than token prices, suggesting rotation into stablecoins rather than full exits.

The read: This looks like tactical de-risking, not a structural unwind. But that doesn't mean it can't get uglier before it gets better.

Deribit options data shows puts trading at a 10 volatility premium to calls through end-March. Translation: the market is hedging for more downside.

The Bottom Line

Bitcoin is in correction mode — no question. The macro backdrop (tariffs, geopolitics, dollar strength) is hostile to risk assets. $60K is the line that separates \"correction\" from \"capitulation.\"

If you're trading: Watch the $60-63K range like a hawk. Oversold bounces are possible, but the trend is your friend — and right now, it's down.

If you're HODLing: This is the price of admission. Bitcoin has seen 50%+ drawdowns before. The question isn't whether it recovers — it's whether you have the stomach to sit through the washout.

Stay sharp. Markets don't forgive the reckless.