Bitcoin approached $63,000 on Saturday after a difficult week in which its decline exceeded 15%, while Ether and several major cryptocurrencies recorded even larger losses. Reduced liquidity and automated liquidations may have amplified the move, although they do not prove they caused the entire decline. US spot Bitcoin funds have also recorded a prolonged run of net withdrawals, pointing to more cautious institutional demand. Analyst James Check described the environment as one of capitulation, but this does not provide a timing signal for a price floor. Trading volumes, funding rates, exchange balances and Bitcoin fund flows will be watched when US markets reopen to assess the durability of any recovery.
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