Bitcoin Falls Below $64,000 for Third Time This Week Amid Market Volatility

Bitcoin's price fell below $64,000 for the third time this week on July 28 as approximately $100 million in leveraged positions were liquidated within an hour. This marked a repeat of earlier slides around that level, with traders being flushed out once again.

The decline coincided with a sharp selloff in South Korean equities, with the KOSPI plummeting 8.02% to 6,213.51, triggering its eighth circuit breaker of the year due to a plunge in U.S. semiconductor stocks. This move is part of a string of chip-driven routs this month and demonstrates how crypto prices often mirror tech sector swings.

The Federal Reserve's decision to maintain its federal funds rate at 3.50%-3.75% for a fourth consecutive meeting has also been seen as a potential catalyst for further price volatility, alongside other market events such as the pending Digital Asset Market Clarity Act vote and two anticipated Bitcoin forks in August.