Bitcoin slid beneath the $65,000 mark on Sunday evening, extending losses as global macroeconomic developments unsettled already fragile risk markets. The cryptocurrency fell from around $67,600 to near $64,700 in less than two hours, marking a decline of more than 4%.
Crypto Market Liquidations Accelerate Sell-Off
The sudden move lower triggered a wave of forced liquidations across derivatives platforms. Data from Coinglass indicates that nearly $360 million in long positions were liquidated within a single hour. Ether dropped roughly 5.7% to $1,861, XRP fell over 6% to $1.33, reflecting broad weakness.
Market analysts describe the decline as part of a wider risk-off shift rather than a crypto-specific event. Investor sentiment was shaken by escalating violence in Mexico following the reported killing of cartel leader Nemesio “El Mencho” Oseguera, alongside weak U.S. housing data showing pending home sales at a record low.
Tariff Hike and Yen Surge Add Pressure
Additional uncertainty followed President Donald Trump’s announcement that blanket U.S. import tariffs would rise from 10% to 15%. Meanwhile, a sharp rally in the Japanese yen fueled speculation of tighter monetary policy from the Bank of Japan, prompting deleveraging across global markets.
Analysts are now watching $60,000 as critical support. A recovery above $65,000–$66,000 could stabilize momentum, while reclaiming $70,000 may signal renewed bullish strength, contingent on improving macro conditions and potential ETF inflows.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.