# Bitcoin plunges below $63K as $1.8 billion in bets get wiped out — short the crypto weakness

_AI-generated trading idea · SHORT · BTC_

> Canonical page: https://commonquant.ai/research/for-you/bitcoin-plunges-below-63k-as-1-8-billion-in-bets-get-wiped-o--985e2eeb-3f81-40f5-bd01-819f0e28c400

Bitcoin just suffered a massive crash, breaking below $63,000 for the first time since February and wiping out over $1.8 billion in leveraged crypto bets. Traders are now bracing for it to fall even further to test the $60,000 level.

## Idea

The crypto market is experiencing a severe panic, which is forcing people who borrowed money to buy Bitcoin to sell their positions automatically. This creates a dangerous cycle where forced selling pushes the price down even further. With fear spiking and momentum completely downward, the path of least resistance is likely lower until the selling exhausts itself. Betting against Bitcoin in the short-term allows you to profit from this ongoing panic and wave of forced liquidations.

## Key details

- Symbols: BTC
- Timeframes: 4H
- Tags: \#crypto, \#bearish, \#momentum

## Community

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- Copies: 0
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## News sources

- [Bitcoin tanks below $63,000 for the first time since February as price selloff deepens](https://www.coindesk.com/markets/2026/06/04/bitcoin-selloff-continues-as-prices-slide-below-usd63-000-for-the-first-time-since-february) — CoinDesk
- [Bitcoin's crash to $65K triggers $1.8B in crypto liquidations](https://cointelegraph.com/markets/bitcoins-crash-to-65k-triggers-18b-in-crypto-liquidations) — Cointelegraph

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