Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesStocksEarnInstitutionAI & More
Bitcoin slips toward $63,000 as a tech selloff drags risk assets lower

Bitcoin slips toward $63,000 as a tech selloff drags risk assets lower

CryptoNewsNetCryptoNewsNet2026/06/23 05:57
By:CryptoNewsNet
Back to the list

Bitcoin slips toward $63,000 as a tech selloff drags risk assets lower

Bitcoin slips toward $63,000 as a tech selloff drags risk assets lower image 0  coindesk.com 2 m
Bitcoin slips toward $63,000 as a tech selloff drags risk assets lower image 1

Bitcoin fell toward $63,000 on Tuesday, caught in a broad retreat from risk as investors pulled out of the technology stocks that have led markets all year.

The token traded around $63,640, down 0.9% over 24 hours and 3.3% on the week, per CoinDesk data, after touching about $65,076 on Monday and sliding through the session. The selling was marketwide. Ether fell 0.9% to $1,719 and is also down 3.3% on the week, XRP dropped 1.6% to $1.12 for a 9% weekly loss, solana lost 3.4% to $71 and dogecoin slid 6.6% over seven days.

Tron was the rare gainer, up 1.3% on the day and 4.6% on the week. Hyperliquid's HYPE fell 4.8% on the week.

The pressure came from outside crypto. A rotation out of this year's best-performing technology and chip shares sank global equities, with a gauge of Asian stocks falling more than 2% after a record close and South Korea's Kospi plunging more than 6% on fears that the rally in chipmakers had run too far.

S&P 500 futures fell 0.8% and Nasdaq 100 contracts dropped 1.3%, following a slide in megacap tech and rising bond yields that pulled US stocks lower on Monday. Brent crude edged below $78 a barrel and gold retreated.

That marks a shift in what is steering crypto. For weeks bitcoin moved on each twist of the Iran story. Now, with a peace roadmap in place and oil sliding, the dominant force is the same AI-driven tech trade that has carried equities to records, and crypto is falling as that trade wobbles.

The next test is memory chipmaker Micron's results on Wednesday, a read on whether AI spending can keep sustaining the rally that has lifted its shares more than 300% this year.

Meanwhile, Bitfire Group Holdings, a Hong Kong-listed digital asset financial services firm, pointed to a dense stretch beyond that. It flagged three macro catalysts in the next four week in an email to CoinDesk: the June US jobs report on July 2, a direct test of how well hiring is holding up; the consumer price index on July 14, the main inflation gauge and a check on whether price growth is really easing back to target; and the start of second-quarter corporate earnings in mid-to-late July, beginning with banks and building toward the large AI companies whose forward guidance will set the global risk tone.

0
0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

Understand the market, then trade.
Bitget offers one-stop trading for cryptocurrencies, stocks, and gold.
Trade now!

You may also like

The AI boom may follow the path of the 19th-century railway bubble, and builders may not be the ultimate winners

Goldman Sachs analyst Bobby Molavi compared the current situation to the 19th-century British railway mania: 500 companies spent more than the nation's annual income building 8,000 miles of railway, with most early investors losing out, while the real beneficiaries were the later "passengers." He pointed out that the current AI craze is driven by both debt and momentum, and that the S&P 500’s forward P/E ratio of 18x is only "a bit cheaper." Whether the builders can retain value is uncertain, and history does not offer an optimistic answer.

华尔街见闻•2026/11/12 03:56
The AI boom may follow the path of the 19th-century railway bubble, and builders may not be the ultimate winners

If Anthropic's IPO goes smoothly and the stock price rises next week, then everything remains the same for AI. Otherwise, some companies will go bankrupt.

The shrinking valuations of two major giants have triggered a chain reaction—investors are adopting more conservative revenue multiples for AI startups and are directly halting high-valuation financing for companies with zero revenue. Multiple venture capital firms have advised their portfolio companies to lower valuation expectations and to quickly build up cash reserves. Market participants warn that the outcome of Anthropic’s IPO will be a barometer for the industry: if successful, the boom will continue; if it fails, some companies may face elimination.

华尔街见闻•2026/11/12 03:46

After the Brazilian election, political discount deepens; Morgan Stanley remains bullish on Petrobras (PBR.US), focusing on fuel pricing and dividends

Morgan Stanley still maintains its most optimistic "Overweight" rating, but has lowered its year-end 2027 target price from $31 to $25.

智通财经•2026/11/12 03:42
After the Brazilian election, political discount deepens; Morgan Stanley remains bullish on Petrobras (PBR.US), focusing on fuel pricing and dividends

Corning (GLW.US) receives initial "Buy" rating from Jefferies! AI factories driving a fiber optic rush, with a potential global supply gap of up to 30%

For Corning, the recent profit growth mainly comes from the expansion of AI clusters. As the number of optical links crossing cabinets and campuses increases, customers need to deploy more optical fibers within limited conduit and cabinet space, thus driving demand for high-density optical cables and connection systems.

智通财经•2026/11/12 02:47
Corning (GLW.US) receives initial "Buy" rating from Jefferies! AI factories driving a fiber optic rush, with a potential global supply gap of up to 30%