Bitcoin Falls to $62,700, Steadies Near $63,200 as Crypto Market Cap Retreats to $2.25T

Bitcoin briefly fell to about $62,700 before steadying near $63,200, down roughly 3.4% daily and approaching a 7% weekly decline, Odaily Planet Daily reports. Total crypto market capitalization retreated to around $2.25 trillion as short-term holders faced hundreds of millions of dollars in forced liquidations, with funding rates turning negative and open interest declining. A Presto Research analyst said the move below $63,000 reflected broad confidence erosion rather than a single catalyst, noting the $60,000–$63,000 range as pivotal: if it holds with oversold recovery and short covering, a rebound may follow, while a decisive break lower could trigger fresh liquidations.