Bitcoin Tumbles Below $64K Amid Asian Selloff and Fed Fears

Bitcoin's price fell below $64,000 on July 28 as it reacted to a broad risk-off move across Asian markets. The decline began after US markets closed on Monday and accelerated as South Korean technology shares sold off.

The KOSPI index in South Korea fell over 8% on Tuesday morning, forcing the Korea Exchange to suspend trading for 20 minutes due to a Level 1 circuit breaker being activated. The selloff continued even after the halt, with the KOSPI falling almost 10% during the session.

Japan's Nikkei also fell about 4%, following a decline in the Philadelphia Semiconductor Index. Nvidia had dropped 5%, adding to negative signals for technology-linked risk assets.

The relationship between Bitcoin and equities is not constant, but traders initially treated the Asian selloff as a wider risk event. However, Fed expectations, ETF flows, and geopolitical developments were moving simultaneously, making it difficult to pinpoint a single cause for the decline.