Bitcoin Tumbles Below $63,000 Amid South Korean Market Plunge

Bitcoin dipped below $63,000 after an almost 11% drop in South Korea's Kospi index was driven by losses in major chip stocks. The decline comes as investors await the Federal Reserve's interest rate decision on Wednesday, which is likely to be a quarter-point hike.

The Fed's moves and upcoming economic data will be crucial for Bitcoin's near-term direction, with heightened market uncertainty due to falling odds for the Clarity Act.