Asian Sell-Off and AI Fears Send Bitcoin Plummeting

Bitcoin fell sharply on Tuesday, dropping 2.7% to around $63,200 as Asian markets experienced a broad sell-off.

The decline was led by South Korea's Kospi index, which plummeted over 10%, triggering a circuit breaker and contributing significantly to the cryptocurrency's price drop.

Additionally, tech stocks were under pressure due to concerns over AI infrastructure investments exceeding $750 billion, causing Nvidia shares to fall nearly 5%.

The Federal Reserve's two-day policy meeting also added to market uncertainty, as did the delayed crypto regulatory legislation (CLARITY Act) in the US Senate.