Bitcoin sinks below $64,000, its weakest since August, as $1.47 billion in bets are liquidated and bitcoin ETFs log a seventh straight session of outflows

Bitcoin slid through $64,000 on Saturday, extending a retreat that began in late October. At 5:15pm Eastern time it was down 6.55% on the day at about $63,800, after an intraday low near $63,403, Investing.com reported. That is the weakest level since August and leaves the coin more than 20% below where it traded in late October and on course for a sixth straight weekly loss.

The sell-off forced traders out of leveraged positions. CoinGlass data cited by Investing.com showed $1.47 billion liquidated across crypto in 24 hours, about $1.31 billion of it bullish bets and about $677 million of it in bitcoin.

Money also kept leaving the funds. US spot bitcoin ETFs lost $185.45 million on Friday, per SoSoValue, their seventh consecutive session of net outflows and about $1.91 billion since November 5. BlackRock's IBIT accounted for $143.5 million of Friday's total, The Block reported.

Sentiment followed. The Alternative.me Fear & Greed Index read 13 on Saturday, down from 20 a day earlier and 53 a month ago, and has stayed in its "extreme fear" range for a week. The next reading on ETF flows comes Monday, when US markets reopen.