Bitcoin dropped toward $63,000 on Tuesday, trading near $63,640—a 0.9% decline over the past 24 hours and a 3.3% slide for the week, according to CoinDesk data.
Price Movements Across Major Coins
Ethereum followed a similar trajectory, falling 0.9% to $1,719 and matching Bitcoin’s 3.3% weekly loss. XRP slipped 1.6% to $1.12, marking a 9% decline over the same period, while Solana lost 3.4% to $71. Dogecoin experienced a 6.6% drop over seven days, underscoring a broad sell‑off among leading crypto assets.
Tron stood out as an exception, gaining 1.3% on the day and 4.6% for the week, whereas Hyperliquid’s HYPE token fell 4.8% in weekly terms.
External Market Forces Driving the Decline
Investors rotated out of top‑performing technology and semiconductor equities, triggering a global equity pullback that saw Asian markets tumble more than 2% after a record‑high close and South Korea’s Kospi plunge over 6% on concerns of an overextended chip rally.
U.S. futures mirrored the trend, with S&P 500 contracts down 0.8% and Nasdaq 100 futures slipping 1.3% as rising bond yields pressured megacap tech stocks. Commodity prices also retreated, with Brent crude slipping below $78 per barrel and gold easing, further dampening risk appetite for crypto and other speculative assets.