Bitcoin Falls Near $63,000 as a Long-Term Holder Metric Tests Bear-Market Support

Bitcoin traded near 63,649 dollars on Wednesday after briefly falling below 62,000 dollars during the session, according to BlockchainReporter. The price is down more than 13 percent over the past week and roughly 50 percent below its October 2025 high of 128,198 dollars, with about 1.5 billion dollars in leveraged positions liquidated in the decline.

CoinDesk reported that more than half of the bitcoin in circulation is now held at an unrealized loss, a condition that in past cycles has coincided with bear-market bottoms as the price reached historically significant support levels. The same indicator has appeared at earlier market lows, though it offers no certainty about timing or magnitude.

The decline has been driven in part by withdrawals from United States spot bitcoin exchange-traded funds, which recorded 11 consecutive days of outflows totaling 3.45 billion dollars. It also reflects a movement of capital toward artificial-intelligence stocks and a less accommodative position from the Federal Reserve.

The episode is a reminder that the assets most sensitive to financial conditions move first when liquidity tightens. Bitcoin, which many investors hold as protection against currency debasement, has recently moved together with other risk assets rather than independently of them. That behavior is worth considering against the long-term argument for a fixed-supply currency.