Bitcoin Struggles to Breach $62,000 Amid Market Downturn

Bitcoin (BTC) aimed to reclaim $62,000 on August 3, as markets showed signs of recovery after a significant liquidation event. Data from Cointelegraph Markets Pro and TradingView indicated a 3% rebound in BTC price following multi-week lows of $60,435 on Bitstamp. This came on a day of heavy losses for global stocks, with Japan’s Nikkei dropping 6%, setting a pessimistic tone for Wall Street. Disappointing U.S. employment data added to the panic. Bitcoin itself lost nearly $5,000, breaching several key support levels, including the short-term holder cost basis. Liquidations surged as a result, with monitoring resource CoinGlass reporting a total