ETH, SOL, DOGE price news: Bitcoin under $63,000 amid tech selloff

Bitcoin fell under $63,000 on Tuesday, caught in a broad retreat from risk as investors pulled out of the technology stocks that have led markets all year.

The token traded around $62,840, down 1.1% over 24 hours and 3.5% on the week, per CoinDesk data, after touching about $65,076 on Monday and sliding through the session. The selling was marketwide. Ether fell 0.9% to $1,719 and is also down 3.3% on the week, XRP dropped 1.6% to $1.12 for a 9% weekly loss, solana lost 3.4% to $71 and dogecoin slid 6.6% over seven days.

Tron was the rare gainer, up 1.3% on the day and 4.6% on the week. Hyperliquid's HYPE fell 4.8% on the week.

The pressure came from outside crypto. A rotation out of this year's best-performing technology and chip shares sank global equities, with a gauge of Asian stocks falling more than 2% after a record close and South Korea's Kospi plunging more than 6% on fears that the rally in chipmakers had run too far.

S&P 500 futures fell 0.8% and Nasdaq 100 contracts dropped 1.3%, following a slide in megacap tech and rising bond yields that pulled US stocks lower on Monday. Brent crude edged below $78 a barrel and gold retreated.

That marks a shift in what is steering crypto. For weeks bitcoin moved on each twist of the Iran story. Now, with a peace roadmap in place and oil sliding, the dominant force is the same AI-driven tech trade that has carried equities to records, and crypto is falling as that trade wobbles.

The next test is memory chipmaker Micron's results on Wednesday, a read on whether AI spending can keep sustaining the rally that has lifted its shares more than 300% this year.

Meanwhile, Bitfire Group Holdings, a Hong Kong-listed digital asset financial services firm, pointed to a dense stretch beyond that.

It flagged three macro catalysts in the next four week in an email to CoinDesk: the June US jobs report on July 2, a direct test of how well hiring is holding up; the consumer price index on July 14, the main inflation gauge and a check on whether price growth is really easing back to target; and the start of second-quarter corporate earnings in mid-to-late July, beginning with banks and building toward the large AI companies whose forward guidance will set the global risk tone.

The firm also flagged two warning signs specific to crypto.

The Coinbase premium, the gap between bitcoin's price on the US exchange Coinbase and other venues that works as a rough proxy for American institutional demand, has widened to the downside, a sign that US institutional buying remains tepid.

And Strategy's STRC preferred stock, whose record-low slide CoinDesk reported last week, has fallen further, briefly dipping below $84. Bitfire said there was no immediate blow-up risk but that the "what if they need to sell?" overhang around Strategy is real and is keeping a lid on sentiment.

For bitcoin, the level to watch is the same one that has defined June. It is back near the lower end of its range, and a clean break of the $59,000 to $60,000 floor from earlier this month would signal the sell-off has entered a new phase.

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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