Bitcoin fell sharply to $62,000 in tandem with a 2% Nasdaq decline, as contagion from Korea's market plunge spread across global risk assets. The move triggered approximately $700 million in forced liquidations across crypto markets, a level historically associated with short-term capitulation events that can temporarily clear excess leverage.

The key question now is whether the liquidation flush represents a washout bottom or merely the first leg of a broader deleveraging cycle tied to macro deterioration. Watch for stabilization in BTC around the $60K–$62K support zone and whether Nasdaq futures stabilize overnight — a continued equity sell-off would likely drag crypto further before any recovery materializes.