Bitcoin briefly fell below $62,000 over the weekend, touching its lowest level in roughly three months, as a record-setting artificial intelligence initial public offering and a sustained wave of exchange-traded fund redemptions combined to drain liquidity from digital assets.

The largest cryptocurrency traded at $64,715 at around 9:45 a.m. German time on Sunday, down 3.5% from 24 hours earlier, according to CoinGecko. Its 24-hour low of $62,081 left it 48.7% below the all-time high of $126,080 reached on October 6, 2025. Ether, the second-largest token, fell harder and changed hands at $1,799.78, a 5.2% decline over the same period.

The sell-off has been relentless. Bitcoin lost 3.5% on November 12, 4.3% on November 13 and 6.0% on…