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Bitcoin slips below $63,000 as risk-off spreads from tech to crypto

Bitcoin was last around $63,245, crypto market capitalization fell 1.9% to $2.16 trillion, and average crypto RSI dropped to 42.2 near oversold levels.

Reported · Written up by our desk · Market Structure

CoinDesk reports bitcoin fell below $63,000 amid a broad risk-off move that also hit equities. The outlet said bitcoin slid 1.2% and ether dropped 1.7% on the day as a selloff in semiconductor stocks spread from Asia to North America and renewed Middle East tensions weighed on sentiment.

CoinDesk added that the move was part of a wider rotation rather than a crypto-only event. Nasdaq 100 index futures fell 1.9% and S&P 500 futures declined 1.0%, while the Dollar Index rose to 100.75 and gold gained 0.6% to climb back above $4,000.

Within crypto, privacy coins were among the few gainers, with ZEC and DASH advancing, while AI tokens FET and TAO rose even as momentum in the sector has struggled since mid-June. CoinDesk said the average relative strength index across crypto pairs fell to 42.23, approaching the oversold zone that helped trigger July’s relief bounce heading into the weekend.

CoinDesk quoted Patrick Munnelly at Tickmill Group, saying the market was seeing “AI fatigue” alongside “Hormuz heat,” and that the semiconductor selloff had shifted from profit-taking to position-clearing, dragging markets toward worst levels in months for parts of Asia. Overall, CoinDesk reported total crypto market capitalization dropped 1.86% to $2.16 trillion.

Latest closeGold $3,981.40 ▼1.6%|Bitcoin $63,224.40 ▼0.9%|S&P 500 7,533.77 ▼0.5%

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