Bitcoin slides to $61,300, rebounds to $62,500 as two-day liquidations hit $3B

Bitcoin fell to $61,300 before recovering to around $62,500. Liquidations totaled about $3 billion over the past two days, while total open interest dropped 8.5% to $111.4 billion. Derivatives positioning leaned decisively bearish. Put skew widened across both BTC and ETH, and on Deribit, open interest in $60,000-strike BTC put options rose above $1 billion. Solana's open interest climbed to a record high even as the token slipped below its February low, pointing to a buildup in short exposure and comparatively weaker performance.