Bitcoin Falls Below $65,000 as $230M in Long Positions Liquidated Amid Miner De-Risking

Bitcoin fell below $65,000 in early trading, triggering roughly $230 million in long liquidations, QCP Group analysis cited by Odaily Planet Daily shows. The selloff reflects mounting pressure from new tariff risks and geopolitical uncertainty, including President Trump's decision to raise global tariffs from 10% to 15%, which has dampened macro risk appetite. With Bitcoin trading below average mining costs, miners are prioritizing liquidity over holding—Bitdeer has already sold down its Bitcoin reserves and partially reallocated capital toward the AI sector. QCP Group noted that this liquidation wave has been less severe than earlier episodes this year, options markets continue to price in downside risk with cleaner positioning structures, and spot Bitcoin ETF flows resemble basis trade unwinds rather than broad market exits, pointing to a capital reshuffle rather than a full-scale retreat.