Bitcoin steadies at $62,600 as South Koreans flee stocks rout for crypto

Markets Bitcoin steadies at $62,600 as South Koreans flee stocks rout for crypto Bitcoin consolidated after Monday's selloff as Donald Trump threatened more Iran strikes, gold extended its slide and a KOSPI index meltdown sent South Korean crypto volumes soaring. By Oliver Knight , Saksham Diwan | Edited by Sheldon Reback Jul 14, 2026, 10:39 a.m. 2 min read Make preferred on Share Share this article Copy link X icon X (Twitter) LinkedIn Facebook Email Make preferred on Bitcoin price (CoinDesk) Summary Show Bitcoin is consolidating at $62,600 after Monday's slide from $64,400 to $61,800, with $283 million in 24-hour liquidations skewed 74-26 toward longs and the Binance heatmap flagging $61,300 as the key level to watch on any further downside. Options markets continue to moderate their bullishness, with the put/call ratio softening from 64/36 to 58/42 and the one-week delta skew compressing to 15% from 26% a week ago, while DVOL at 37.43 sits near multi-year lows pointing to a low-stress environment. South Korea's KOSPI has now lost 10% since Friday, prompting Upbit trading volume to surge 1,426% as Korean investors rotate back into crypto, potentially reversing the machine chip trade that saw them exit digital assets at the end of last year. Bitcoin BTC $ 62,662.05 consolidated following Monday's selloff, trading at $62,600 after tumbling from $64,400 to $61,800 over the course of 24 hours. Ether (ETH) tracked the larger cryptocurrency, trading in a relatively tight $1,770-$1,790 range. Trading volume across ETH pairs increased by 2.2% to $8.95 billion over the past 24 hours, suggesting a healthy balance of buyers and sellers rather than opposed to apathy. Lighter (LIT) rebounded from Monday's downturn, rising by 5.7% since midnight UTC as it looks to stage another rally following a 200% surge since May. U.S. equities were mixed, with Nasdaq 100 index futures adding 0.31% while S&P 500 index futures fell by 0.12%, reflecting uncertainty after U.S. President Donald Trump said Iran would be hit by "very heavy" strikes on Tuesday. Gold extended its decline from January's record high to languish around $4,020 per ounce, falling about 28% since Jan. 29. Derivatives positioning Bitcoin derivatives positioning remains broadly unchanged. Open interest (OI) held at $17.1 billion; the three-month annualized basis stayed at 3.8%; and annualized funding rates ran between 0%–8% across multiple venues — with Bybit's earlier negative outlier now brought into line. No meaningful leverage was added in either direction, and no stress signals emerged in the funding structure. Options positioning remains call-biased, but continues to moderate. The 24-hour call/put ratio sits at 58/42, softer than yesterday's 64/36, and the one-week delta skew has compressed further to ~15% from 26% a week ago. The at-the-money term structure stays in contango (front end ~31–32%, long end ~43%), and Deribit's implied volatility index, DVOL, at 37.43 is near multiyear lows. Low-stress, mild call bias, but the options premium is quietly fading. Coinglass data shows $283 million in 24-hour liquidations, with a 74-26 split between longs and shorts. BTC ($66 million) and ETH ($50 million) were the leaders in terms of notional liquidations. The Binance liquidation heatmap indicates $61,300 as a core liquidation level to monitor in the event of a price drop. Token talk Ethena (ENA) mirrored LIT's surge on Tuesday, rising by 5.7% to lead the altcoin market. Unlike LIT, however, ENA is in a deep downtrend dating back to September, since when it has lost more than 90% of its value. There were also encouraging signs in the AI sector on Tuesday, with NEAR rising 3.3% and FET gaining 1.7%. JUP and WLFI continued to show weakness amid dwindling trading volume, falling by 1.5% and 0.5%, respectively. CoinMarketCap's "Altcoin Season" indicator paints a more positive picture with a reading of 54/100. It spent most of June below 50/100. One potentially bullish driver of altcoin price action could be the deep selloff in South Korea's stock market. The benchmark KOSPI index has dropped 10% since Friday, leading to an inverse correlation with the country's crypto exchanges. Wu Blockchain reported that Upbit trading volume surged by 1,426% following KOSPI's plight, indicating a potential unwind of the machine chip trade that saw investors ditch crypto at the tail end of last year . Crypto Markets Today Related Assets Bitcoin $ 62,662.05 0.22 % Latest Crypto News 1 XRP and ether bulls are getting louder as prices fall, signaling more trouble ahead 12 minutes ago 2 Live updates: Bitcoin holds $62,600 as the Iran conflict reignites and CPI looms 3 hours ago 3 U.S. government moves $288 million in seized bitcoin, ether to Coinbase Prime 4 hours ago 4 Solo bitcoin miner makes $200,000 using $150 equipment 5 hours ago 5 Bitcoin slips as traders lift July Fed rate hike bets ahead of Inflation report 7 hours ago 6 Binance.US CEO says exchange is rebuilding, eyes return to 20% U.S. market share 14 hours ago 7 Franklin Crypto CIO says crypto prices are disconnected from fundamentals 14 hours ago 8 TeraWulf CEO: 'Not All Megawatts Are Created Equally' in AI Race 14 hours ago 9 Trump's crypto riches loom over Clarity Act talks to ban conflicts for U.S. officials 16 hours ago 10 Mizuho says Circle bank approval doesn't solve USDC growth, stablecoin competition risks 18 hours ago Latest Research Gate Leads Spot Market Share Gains as CEX Volumes Rise for First Time in Five Months Gate Leads Spot Market Share Gains as CEX Volumes Rise for First Time in Five Months CEX trading volumes rose for the first time in five months in June, with spot climbing 15.3% to $1.11T and RWA perpetual volumes surging to a record $311B. By CoinDesk Research 23 hours ago CEX trading volumes rose for the first time in five months in June, with spot climbing 15.3% to $1.11T and RWA perpetual volumes surging to a record $311B. Why it matters : CEX trading volumes rose for the first time in five months in June, with spot climbing 15.3% to $1.11T and RWA perpetual volumes surging to a record $311B. View Full Report More From Markets XRP and ether bulls are getting louder as prices fall, signaling more trouble ahead U.S. government moves $288 million in seized bitcoin, ether to Coinbase Prime Solo bitcoin miner makes $200,000 using $150 equipment More From Bitcoin XRP and ether bulls are getting louder as prices fall, signaling more trouble ahead Live updates: Bitcoin holds $62,600 as the Iran conflict reignites and CPI looms U.S. government moves $288 million in seized bitcoin, ether to Coinbase Prime