Bitcoin falls back to $62k, with months of gains wiped out, and over $1.5 billion in long positions liquidated. But what’s truly worth questioning isn’t the decline itself, but where the funds went.

Presto Research points out that this round of decline occurred simultaneously with the rise of AI stocks and gold. Broadcom’s AI revenue forecast missed expectations, dropping over 13% after hours, but the AI sector as a whole is still siphoning funds.
Crypto venture capital trading volume in May hit a five-year low, as capital shifts from crypto to AI and hot IPOs.
Altcoin market share increased by 14.68% on the 10th, while Bitcoin’s market share fell by 4.85% during the same period. This isn’t panic, but rather a structural flow of funds — the AI narrative is clearer, IPOs are drawing more liquidity, and crypto lacks new growth stories.
The fear index remains at 12, with no further deterioration, indicating the market isn’t panic selling but traders actively switching tracks. Liquidation waves are the result, not the cause.
The risk is: if the AI narrative cools down, funds may not flow back into crypto. After leverage is cleared, the market needs new catalysts; otherwise, $62k may not be the bottom.
$btc #ai # On-chain data #区块链 # Crypto market