Bitcoin slips toward $63,000 amid tech selloff

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.