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Bitcoin drops about 2.7% after U.S. close amid risk-off trading

Losses in bitcoin around $63,200 spread to ether, XRP, and solana as South Korea’s Kospi fell 10% and traders look to the Fed decision on Wednesday.

Reported · Written up by our desk · Market Structure

Bitcoin slid roughly 2.7% to about $63,200 after the U.S. market close, extending declines across major cryptocurrencies as Asian equities sold off, led by South Korea’s Kospi, according to CoinDesk.

The move dragged on other tokens including ether, XRP, and solana, with bitcoin moving lower from nearly $65,000. CoinDesk also tied the broader risk-off tone to weaker trading in U.S. stocks, noting NVDA shares fell sharply after the U.S. close.

CoinDesk reported the U.S. Senate delayed action on the closely watched CLARITY Act, opting to focus on a Russia sanctions bill, which it said could push any CLARITY Act vote to next week ahead of the Aug. 8 recess.

Looking ahead, CoinDesk said analysts expect volatility across asset classes around the Federal Reserve’s rate decision on Wednesday and key U.S. data on Thursday, citing bitcoin’s tendency to move with equities when macro and interest rate stress is elevated.

Latest closeBitcoin $63,506.26 ▼0.3%|Solana $73.38 ▼1.0%|XRP $1.059 ▼0.6%

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