Bitcoin Slips Toward $63,000 Amid Broad Risk Asset Sell‑Off

Bitcoin slipped toward $63,000 on Tuesday, as a general retreat from risk assets prompted investors to unwind positions in the tech equities that have driven market gains throughout the year.

At approximately $63,640, the cryptocurrency was down 0.9% over the past 24 hours and 3.3% for the week, according to CoinDesk. It had briefly topped $65,076 on Monday before easing through the session. The broader sell‑off also affected Ether, which slipped 0.9% to $1,719 (-3.3% weekly); XRP fell 1.6% to $1.12 (-9% weekly), Solana declined 3.4% to $71, and Dogecoin dropped 6.6% over seven days.

Tron was an outlier, gaining 1.3% on the day and 4.6% for the week, while Hyperliquid’s HYPE index fell 4.8% over the same period.

The downturn was driven by developments beyond the crypto sphere. A rotation out of this year’s top‑performing technology and semiconductor stocks pressured global equity markets, with an Asian equity index slipping more than 2% after a record close and South Korea’s KOSPI falling over 6% amid concerns that the rally in chip manufacturers had run its course.

Source link