Bitcoin and ether led nearly $1 billion in futures liquidations across major crypto markets, as a broader AI-linked trading theme continued to shape sentiment. Bitcoin briefly slid to around $59,175 before rebounding to roughly $61,500, and the move triggered about $430 million in liquidations tied to bullish bitcoin bets. The selloff and rebound unfolded as traders also looked to tokenized stock exposures tied to chip names such as Micron Technology Inc (MU) and Sandisk (SNDK).

XRP fell 2.8% to about $1.07 after a muted rebound failed to regain the $1.0850 level. Traders are focusing on $1.05 to $1.07 as the key support band. A drop below that area could shift attention back to the psychological $1 mark.

Bitcoin has reclaimed the $60,000 level, while ethereum (ETH) and solana (SOL) have recovered from earlier losses. AI-linked stocks also rebounded, signaling improved investor sentiment across both sectors. The moves suggest a broader risk-on tilt, with traders rotating back into growth and crypto assets.

Analysts say bitcoin could fall to around $59,000 in the near term. They attribute the risk mainly to weaker market liquidity. With investors turning more cautious and avoiding large trades, volatility and selling pressure could rise. That could soften demand and push prices lower.

A closely watched “altcoin season” indicator has switched on, but not because altcoins are rallying. Glassnode’s Altcoin Cycle Signal has climbed to 86, a level that indicates alts are outperforming bitcoin on a relative basis. The move reflects bitcoin falling faster than alternative tokens, rather than broad strength across the rest of the crypto market.

XRP is gradually sliding toward the $1.10 support level as traders track whether it can break out of the three-week range it has been stuck in. The move is drawing closer attention from investors trying to gauge whether the token can hold above that floor. Market participants are also watching for signs that momentum could build enough to push price beyond its recent swings.

SpaceX’s $600 billion slide triggered a rapid selloff across crypto markets, wiping out nearly half of bitcoin’s market capitalization in three days. The move underscored how quickly digital-asset valuations can swing. It also highlighted how major corporate financial decisions can ripple through cryptocurrencies.

Taiko halted block production on its Ethereum layer-2 network after an attacker exploited a bridge mechanism to steal about $1.7 million. The incident triggered a sharp selloff in the TAIKO token, raising concerns among users and investors. The team said it is investigating the breach and will implement safeguards before resuming normal operations.

Bitcoin has been trading around $64,000, struggling to break out of a range that has held for weeks. Spot bitcoin ETF outflows have now extended to a sixth consecutive week, adding to the muted price action. Investors are watching whether flows and macro conditions shift enough to provide a clearer catalyst, according to the source summary.