$134M in Bitcoin Longs Wiped Out as BTC Slips Below $63K Ahead of Key Fed Decision

Bitcoin's drop below $63K triggered roughly $134M in long liquidations, signaling leveraged positioning was crowded and forcing mechanical selling. The move tightens near-term risk conditions for crypto and can spill over to high-beta altcoins via reduced liquidity and dealer hedging. With the market focused on an upcoming Fed event, the drawdown reflects heightened sensitivity to macro policy uncertainty and rates-driven risk sentiment.