Bitcoin Support at $63,000 Collapses, Volatility Triggered by Leverage Liquidations in Asian Markets

On the morning of Monday, July 13, 2026, Bitcoin slipped below the psychological support level of $63,000 during the Asian trading session. This drop was triggered by localized leverage liquidations, once again confirming the market's fragile structure. Although the scale of liquidations was not as large as the crashes seen earlier this year, it is noteworthy that it occurred amidst weakening institutional demand and ongoing capital rotation into alternative sectors like artificial intelligence (AI).

The market's rebound remains fragile, driven more by short covering and macroeconomic relief than by sustained institutional demand.

Bitcoin closed at approximately $63,717 on July 12, but began facing downward pressure from early Asian trading hours on the 13th. The price quickly gave up the $63,000 level, fueling investor anxiety. This movement is analyzed to have amplified price volatility as it occurred during a period of relatively low trading volume.

Mechanisms and Data of Leverage Liquidations

The scale of leverage liquidations that drove this price drop was only about one-sixth of the level seen during the worst periods of volatility over the past 30 days. According to Coinglass data, the decline accelerated as a large number of long positions near $64,040 were liquidated in the Bitcoin perpetual futures market. Conversely, some short position liquidations were also observed around the $64,440 level, indicating two-way volatility. Below are the key liquidation instances recorded during this session.

• BTC Perpetual Futures Long Position Liquidation: $64,040 (07-13 00:10:00 UTC)
• BTC Perpetual Futures Short Position Liquidation: $64,440 (07-13 00:10:00 UTC)
• ZEC Perpetual Futures Short Position Liquidation: $540.50 (07-13 00:10:00 UTC)
• ETH Perpetual Futures Short Position Liquidation: $1,830 (07-12 23:29:45 UTC)

The current market recovery environment is highly unstable. Although prices have rebounded slightly from the sell-off lows recorded at the end of June, there is a lack of strong buying pressure to support this. Experts define the current price range as a 'weakly constructive phase amidst mixed signals,' while warning that the structure is vulnerable to external shocks.

In the second quarter of 2026, the digital asset market recorded its third consecutive quarter of losses, the longest streak since the 2022 bear market. Behind this weakness is a trend of institutional investors withdrawing funds from Bitcoin ETFs to rebalance their portfolios into AI-related stocks. In fact, Bitcoin ETFs recorded their largest quarterly outflow since launch, weakening market momentum.

Comparison with 2026 Lows and Future Outlook

The decline on July 13 is relatively mild compared to the massive crash that occurred last June. At that time, Bitcoin plummeted to $59,018, triggering over $1 billion in liquidations within 24 hours. This drop below $63,000 suggests that the market is still exposed to downside risks, but it has not reached the destructive levels seen in June.

The key support level for Bitcoin's price in the future is set in the low $60,000 range. Analysts believe this support level will be tested again if there are statements regarding the Federal Reserve's (Fed) monetary policy or unexpected macroeconomic shocks. In particular, whether Bitcoin ETF inflows turn positive is considered a crucial variable in determining short-term price direction.

In conclusion, the cryptocurrency market in mid-July 2026 remains in a reorganization phase following extreme volatility. This leverage liquidation that occurred during the Asian session reminded market participants that risk management is still the top priority. Investors need to respond by closely monitoring upcoming economic indicators and institutional fund movement paths.