The rally that fizzled
The decline came after a brief rally fueled by de-escalation news in the Middle East. Bitcoin had climbed from $63,750 to a monthly peak of $67,000 over 36 hours last week. But that momentum evaporated quickly. The rejection at $65,600 triggered a sharp reversal, and by Thursday afternoon BTC was back where it started — and then some.
Liquidations pile up
Roughly $700 million in leveraged positions were wiped out as Bitcoin slumped. The liquidation cascade hit both long and short traders, but longs took the brunt. It's the largest single-day flush in weeks, and it reset the funding rates across major exchanges.
Altcoins take a beating
HYPE token led losses among larger caps, dropping 8% to $55. Audiera's BEAT token was the day's biggest loser, plunging 25% to $2.74. NEAR, SHIB
