Bitcoin at $62,000 overnight, $2 billion liquidated and 13% lost on the week
Bitcoin touched $62,000 in the night from Saturday to Sunday, its lowest since mid-August, before climbing back toward $64,800. About $2 billion of leveraged bets were force-closed in 24 hours and the week ends with a 13% to 14% loss.
Bitcoin broke its 200-week moving average on Saturday, near $67,800, then the $66,000 to $68,000 support in the evening. The low came overnight, around 2:30 a.m. Paris time, between $61,950 and $62,100 depending on the exchange, a level unseen since mid-August. At 6 a.m. on Sunday it traded near $64,800, down 3% to 4% over 24 hours and 13% to 14% on the week. ETH touched $1,720 to $1,730, a low since July, before recovering toward $1,815. SOL slipped below $70 on Saturday evening.
Liquidations reached $1.9 to $2.1 billion in 24 hours according to CoinGlass and Cryptoast, across more than 320.000 accounts, over 90% of them bets on higher prices. US spot bitcoin ETFs have now seen seven straight sessions of outflows, $1.91 billion from November 5 to 13. The market expects a Fed rate hike on December 9, after October inflation came in at 0.4% month on month. The Fear and Greed index has fallen to 10.
For a holder without leverage, the portfolio itself does not move, only its value in euros does, with bitcoin under €59,000 on Sunday morning. The weekly candle closes on Monday at 1 a.m. Paris time, and Nvidia reports on Tuesday evening, five days after its CEO resigned.
Bitcoin fell to $62,000 overnight, its lowest since mid-August
On Friday we told you bitcoin had slipped below $70,000. The slide went on all weekend. In the night from Saturday to Sunday, around 2:30 a.m. Paris time, bitcoin fell to $62,000, a level it had not touched since mid-August. It climbed back to around $64,800 on Sunday morning, which is less than €59,000. Ether (the crypto of the Ethereum network) dropped toward $1,720 and solana below $70. Close to $2 billion of leveraged bets (positions where traders borrow to wager more) were force-closed in 24 hours. Over the week, bitcoin is down 13% to 14%, mostly on fears of a US central bank rate hike in December.
If you hold bitcoin without borrowing, nothing is taken from you. Your number of bitcoins does not change, only its value in euros falls. A drop triggers no tax as long as you do not sell for euros. In France, if you sell at a loss, that loss only offsets crypto gains made in the same year. Be wary of messages promising to "buy the bottom" for you or to recover your losses. They multiply at times like these.
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Bitcoin below its 200-week average, low of $62,000, $1.9B pulled from ETFs
BTC closed Friday at $68,226 on Bitstamp and broke its 200-week average on Saturday, between $67,750 and $67,900 depending on the source. The overnight low sits at $61,946 on Coinbase and $62,080 per Cryptoast, around 2:30 a.m. Paris time, roughly half the $126,080 record of October 6, 2025 and $4,300 above the July 1 yearly low. A 5% rebound within the hour brought the price back toward $64,800.
CoinGlass counts $1.9 billion of liquidations in the 24 hours to midnight Paris time on Sunday, including $684 million on BTC and $466 million on ETH. Cryptoast reports $2.12 billion at the peak, 93% of it long positions, and open interest down nearly 10% to $106 billion. Glassnode had placed the largest liquidation cluster between $59,500 and $62,600 as early as November 11, the zone hit overnight. Greeks.Live flags negative gamma among options market makers between $58,000 and $72,000, which pushes them to sell into the decline. Stablecoin supply has shrunk by $11.5 billion in 30 days according to Coinbase Institutional.
What remains to be seen is whether Monday's 1 a.m. weekly close lands below $67,800, then how the market digests Nvidia's results on Tuesday and the FOMC of December 8 and 9, where a 25 basis point hike is priced at 88%. For your balance sheet, the drop lowers the euro value of the portfolio but creates no disposal. In France, a sale at a loss for euros before December 31 gives a capital loss that can only offset 2026 digital asset gains (article 150 VH bis of the tax code), with no carry-forward to 2027.
