Bitcoin dropped about 2% on August 14, slipping below the key $63,000 level and reaching an intraday low near $62,667 after another failed push through $65,000. Lookonchain said gambler wallet 0xff84 held a 2,000 BTC short worth $125.37 million with an unrealized profit of $1.79 million and a liquidation price of $63,528.92, calling it the largest on-chain BTC bear position. That updated snapshot differed from an earlier reading that showed a 2,136 BTC short worth $136 million with a liquidation price of $64,592.3, indicating the position changed over time. CryptoQuant and market observers linked Bitcoin's weak price action to soft U.S. spot Bitcoin ETF demand, a negative Coinbase Premium over the past three months, and insufficient spot trading volume across centralized exchanges.