Bitcoin Tumbles to 10-Day Lows as Asia Chip-Stock Crash Spills Over into US

Bitcoin (BTC) plummeted to ten-day lows of $63K on Tuesday's Wall Street open, following a US stocks sell-off triggered by an Asia chip-stock crash. The contagion from the Asian markets' downturn has spilled over into US trading.

The South Korea KOSPI Index closed down 10.8% in a single session, fueled by 14.8% losses for chip-maker SK Hynix and 18.3% drops for Japan's memory manufacturer Kioxia Holdings.

In the US, tech-heavy Nasdaq Composite Index was down around 1%. Semiconductor manufacturer Micron Technologies erased its rebound, seeing its lowest levels since May 22.