Gate Research: Bitcoin Faces Over $600 Million in Long Liquidation Risk at the $62,000 Level, apxUSD Depegs to $0.94

Gate Research Daily Report: Over the past 24 hours, BTC experienced a clear downside breakdown, with persistent ETF outflows emerging as the primary driver behind the decline. ETH also remained weak, though its losses were slightly smaller than those of BTC. WLD surged more than 31% on the back of growing AI-related optimism and expectations surrounding the launch of the World Chain mainnet, while MAGMA soared nearly 59% following the rollout of liquidity incentive programs and new ecosystem partnerships. Meanwhile, SUSHI gained over 15%, supported by capital rotation into the DeFi sector and improving on-chain activity metrics. At the same time, apxUSD depegged to $0.94 as Bitcoin's decline triggered a chain reaction of collateral value erosion. BTC is also facing more than $600 million in potential long liquidations around the $62,000 level, highlighting strong bearish momentum in the market. Separately, the U.S. Treasury Secretary confirmed that the Strategic Bitcoin Reserve initiative is proceeding cautiously, reinforcing expectations of a measured approach toward government-held Bitcoin reserves.