Bitcoin Slides Below $64K as Asian Markets Tumble, Kospi Leads Losses

Bitcoin dropped to around $63,250 after the U.S. stock market close Monday, pulling back nearly 2.9%.

The drop came alongside a steep slide in Nvidia shares on Wall Street. Adding to market caution, the Senate has delayed the CLARITY Act, a key piece of crypto legislation, in favor of a Russia sanctions bill, making a vote unlikely before the August recess.

Kospi Hits Multi-Month Low

South Korea’s Kospi fell 10% to its lowest level since mid-April, now down 25% from its June peak, driven by heavy losses in major chipmakers. Analysts noted this reflects fading enthusiasm for semiconductor stocks rather than broader macroeconomic stress, suggesting Bitcoin’s correlation with equities may be overstated in this case.

Markets are bracing for volatility later this week, with the Federal Reserve’s interest rate decision on Wednesday followed by inflation and GDP data on Thursday.