Bitcoin Breaks Below $63,000 on Tuesday, Hits 10-Day Low Amid Tech Stock Selloff

According to Cointelegraph, Bitcoin fell below the key support level of $63,000 on Tuesday, marking a 10-day low, as Asian semiconductor stocks plunged and triggered a broader risk asset selloff across global markets. The decline was driven by investor concerns over the sustainability of massive capital expenditures by major cloud computing companies, particularly regarding the returns on artificial intelligence infrastructure investments.

The crypto market recorded over $510 million in long liquidations in the past 24 hours amid the selloff. Analysts noted that if BTC breaks below $64,700, it could trigger a cascading liquidation event, as significant long liquidity has accumulated below that level.