Bitcoin Dives Below $64,000 Amidst Broader Risk-Off Sentiment

Bitcoin's recent decline deepened on Tuesday as it traded below $64,000 after shedding over 2.5% in the prior session.

This move comes amid a broader risk-off sentiment, with investors pivoting away from risk assets and digital currencies falling alongside technology shares.

Nicolai Sondergaard, Senior Research Analyst at Nansen, linked the steep drop in Asian and global semiconductor shares to a shift in risk appetite, referencing reports that China had developed competitive domestic deep ultraviolet (DUV) lithography technology.

Sondergaard noted that institutional investors trimming exposure to technology stocks often do not isolate their crypto allocations, leading to Bitcoin moving in tandem with other risk assets.