Bitcoin slid to nearly two-week lows on Tuesday, dipping under $62,000 for the first time since June 11. The drop coincided with a broad sell-off across Asian stock markets, where major tech stocks took a beating.
South Korea’s Composite index plunged 10% at the time of writing, while Japan’s Nikkei 225 shed nearly 4%. The reversal was especially sharp given the “unprecedented inflows” both markets had seen recently — Taiwan equity fund inflows hit 155% of AUM since January 2024, with South Korea close behind at 150%.
Bitcoin had failed to hold a push beyond $65,500 the day before, and traders quickly turned bearish. One analyst noted that $60,000 could be the next support level, while another pointed to a bearish flag pattern on the chart. “A close below $64,000 could push bitcoin towards $54,000 in coming days,” the CryptoReviewing account warned.
Options markets are still searching for a catalyst that could inject some volatility into the picture. For now, BTC is caught between the broader macro mood and its own technical levels — and neither looks particularly encouraging in the short term.
