Bitcoin · BTC

Bitcoin Slides to $62K Amid Kospi Crash and Massive Liquidations

A major risk-off event in South Korea triggered a sharp drop in Bitcoin, pushing the asset down to $62,000 and wiping out hundreds of millions in leveraged positions. Despite the macro panic, corporate treasuries and institutional issuers are aggressively accumulating behind the scenes. Firms like Strive and MicroStrategy added to their reserves, while Franklin Templeton filed for a novel reinvestment product.

• 🔴Bearish A 10 percent crash in South Korea's Kospi index sparked widespread risk-off selling, dragging Bitcoin down to $62,000 and erasing over $500 million in leveraged positions. — CoinDesk, CryptoSlate, CryptoPotato
• 🟢Bullish Continued corporate accumulation by firms like Strive and MicroStrategy removes over 1,200 Bitcoin from the open market during the price dip. — NewsBTC, Decrypt
• 🟢Bullish Franklin Templeton filed for a Bitcoin DRIP ETF, creating a frictionless pathway for traditional investors to automatically compound their exposure. — NewsBTC ↗
• 🟢Bullish Record low over-the-counter balances and massive exchange withdrawals point to a deepening supply squeeze restricting available inventory. — CryptoPotato, @whale_alert

What to watch — Monitor the upcoming US Core PCE print on June 25 to gauge the Federal Reserve's preferred inflation metric. A high inflation reading will intensify the current risk-off environment, while a cooling print offers the macro relief necessary for Bitcoin to reclaim lost support levels.