Bitcoin Plunges Amid Selloff in Asian Markets

Bitcoin's price dropped by nearly 3% to around $63,490 due to a broad selloff in Asian markets. The decline was influenced by weakening tech stocks, ETF outflows, and cautious investor sentiment ahead of the Federal Reserve's upcoming rate decision.

The KOSPI index in South Korea triggered a circuit breaker, contributing to the decline. This comes as Bitcoin remains range-bound between $60,000 and $66,000, with technical indicators showing softened momentum but potential for volatility expansion.

The Fed meeting and upcoming U.S. economic data releases could drive Bitcoin's next major price move. In the futures market, a failed attempt to break above $65,500 resistance led to a sharp drop and triggered $75 million in liquidations.