Bitcoin, Ethereum, XRP, Dogecoin Slide 2% as Asian Tech Stocks Tumble Ahead of Fed Rate Decision
Bitcoin slipped below $64,000 on Tuesday as a selloff in Asian tech equities reflected investor caution ahead of the Federal Reserve’s interest rate decision Wednesday.
Notable Statistics:
- Coinglass data shows 133,415 traders were liquidated in the past 24 hours for $620.81 million.
- SoSoValue data shows net outflows of $11.6 million from spot Bitcoin ETFs on Friday. Spot Ethereum ETFs saw net inflows of $9.23 million.
- In the past 24 hours, top losers include Audiera, LayerZero and Shiba Inu.
Notable Developments:
Trader Notes:
Crypto chart analyst Ali Martinez said Bitcoin has lost the key $63,800 support level, weakening its near-term technical structure.
With that breakdown, analyst sees $60,000 as the next major downside target unless bulls quickly reclaim the lost support.
Ted Pillows noted Bitcoin is forming a falling wedge, a pattern often viewed as a potential bullish reversal, just as the CLARITY Act nears its final legislative stage.
The trader argues that if the bill passes, it could validate Tom Lee‘s bullish outlook, while a rejection would likely delay, but not necessarily invalidate, his longer-term thesis.
Trader Crypto Poseidonn believes Bitcoin’s summer uptrend has ended, citing a loss of key support and the formation of a lower high.
Drawing parallels with the April-May decline, he expects Bitcoin to revisit sub-$60,000 levels in the coming weeks.
Image: Shutterstock
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