Bitcoin slides to $62,300 as tech stock rout drags crypto lower

The crypto market fell on Tuesday, with bitcoin BTC $ 62,388.31 trading at $62,300, having lost 2.5% since midnight UTC, while ether (ETH) tumbled by more than 4% to $1,650.

The selloff follows Monday's downturn in technology stocks, with another day in the red foreshadowed by Nasdaq 100 futures, which have cratered by 2.5% since midnight.

Tech stocks are struggling due to profit-taking and the risk of higher bond yields, according to Patrick Munnelly , market strategy partner at TickMill.

Altcoins performed worse than bitcoin and ether, with tokens such as ethena (ENA) and hype (HYPE) losing 5%-6% and $717 million in liquidations across the market spurring exaggerated downswings.

The Dollar Index (DXY) rose to its highest level in more than a year, hitting 101.15, the most since May 2025.

In May, combined exchange volumes fell 3.45% to $4.41T; the lowest since September 2024. RWA perpetual futures volumes rose 10.4% against the trend, hitting a new all-time high.

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