Bitcoin slips toward $63,000 as a tech selloff drags risk assets lower
Bitcoin and other cryptocurrencies are experiencing a downturn as investors rotate out of high-performing tech stocks amid broader market volatility. Analysts are now looking toward upcoming corporate earnings and economic data to gauge the future direction of risk assets.
Why it matters
The shift highlights how crypto markets are increasingly correlated with traditional tech equities and sensitive to macroeconomic indicators like inflation and employment data.
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.
The article provides a market analysis based on financial data and expert commentary without political bias.
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