Bitcoin's recent bounce toward $66,921 appears to be a bull trap, with the cryptocurrency falling back to $62,684 in early trading amid a broader risk-off move triggered by an 8% drop in South Korea's KOSPI index. Over $670 million in crypto liquidations occurred in 24 hours, $533 million of which were long positions, as traders deleveraged ahead of the Federal Open Market Committee meeting where Fed Chair Kevin Warsh is expected to hold rates at 3.50–3.75%. Technical indicators paint a bearish picture: a death cross remains active with the 50-day exponential moving average below the 200-day, the Relative Strength Index sits at a bearish 46.5, and a Squeeze Momentum Indicator has been active for nine bars with minimal bullish lift. On the Myriad prediction market, traders give a 65.7% probability that Bitcoin hits $55,000 before $84,000, reflecting months of repricing to the downside.