Bitcoin price slips below $63K as whale builds $125M short

Bitcoin price has fallen 2% from $63,895 to an intraday low of $62,667 on Aug. 14 as spot selling, a $125 million whale short, and weak derivatives demand pushed the price toward a key support zone. Summary Bitcoin price fell below $63,000 and approached its lower daily Bollinger Band at $62,507. A whale increased a Bitcoin short to 1,900 BTC, worth about $125 million. The 4-hour Supertrend remains bearish, while the Chaikin Money Flow stands at -0.08. Liquidation clusters sit near $62,200 below the price and between $64,000 and $64,700 above it. Bitcoin price action today points to seller control According to data from crypto.news, Bitcoin (BTC) price was trading near $62,772 at the time of writing, down 1.13% since the daily open at $63,491. The price had reached a session high of $63,617 before falling as low as $62,700 on Binance. Measured from an earlier intraday level of $63,895 to the low near $62,667, the decline reached roughly 2%. The move broke the psychological $63,000 level and placed Bitcoin just above the lower daily Bollinger Band at $62,507. Bitcoin has remained trapped in a relatively narrow range since early July, with buyers repeatedly appearing near $62,000 and...