Bitcoin Drops Below $63,000 as Global Tech Selloff Weighs on Crypto Markets

Bitcoin fell below the $63,000 mark on Tuesday as investors pulled back from risk assets amid a sharp selloff in global technology and semiconductor stocks. The world’s largest cryptocurrency traded near $62,800, down 1.1% over the past 24 hours and more than 3.5% for the week.

The broader crypto market also moved lower. Ether slipped to around $1,719, while XRP fell to $1.12, extending its weekly decline to roughly 9%. Solana dropped to $71 .

AI Stock Selloff Spreads Across Global Markets

The weakness in crypto followed a broader retreat in technology stocks that have driven global market gains throughout 2026. Asian markets came under heavy pressure, with South Korea’s Kospi index plunging more than 6% as investors questioned whether valuations in chipmakers and AI-related companies had become too stretched.

US stock futures also declined, with Nasdaq 100 futures falling 1.3% and S&P 500 futures losing 0.8%. Rising bond yields, weaker technology shares and declining commodity prices added to the cautious mood across financial markets.

Key Economic Events Could Shape Bitcoin’s Next Move

Market attention is now turning to several major economic events scheduled over the coming weeks. Investors are closely watching the US jobs report on July 2, the Consumer Price Index inflation report on July 14 and the start of second-quarter earnings season, particularly results from major technology and AI companies.

Analysts are also monitoring signs of weak institutional demand. The Coinbase premium remains negative, suggesting limited buying interest from US institutions. At the same time, continued weakness in Strategy’s preferred stock has raised concerns among some investors about broader crypto market sentiment.

Bitcoin is now approaching an important support zone between $59,000 and $60,000. A decisive break below that range could signal a deeper correction and potentially mark a new phase in the current market downturn.