Bitcoin briefly dipped to $59K overnight, triggering nearly $1B in liquidations across crypto majors, before bouncing back to ~$61.5K as Micron's blowout earnings and SK Hynix's $29B U.S. listing plans steadied the AI trade.

BTC lost ~10% from Monday's peak near $65.5K, dragged by a hawkish Fed, 6 straight weeks of ETF outflows, and thinning summer liquidity. $59K held as support, but $1.6B in leveraged longs sit below $58K.

Thursday's PCE inflation print, the Fed's preferred price gauge, is the next major data point that could move the market in either direction.