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Bitcoin drops over 3% to $63,494 amid tech sell-off and Fed rate hike concerns

Market News
28 Jul 2026, 09:47 WIB
Blockonomi
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Bearish
Bitcoin drops over 3% to $63,494 amid tech sell-off and Fed rate hike concerns

Bitcoin fell more than 3% to around $63,494, hitting a 10-day low as tech stocks tied to AI plunged, notably South Korea's KOSPI dropping over 10%. This sell-off spread to digital assets, with Ethereum, Solana, and XRP also declining. Market uncertainty about a possible Federal Reserve rate hike this week and a high likelihood of a September increase is pressuring non-yielding assets like Bitcoin. Despite this, large Bitcoin holders have been accumulating nearly 20,000 BTC recently, signaling confidence, while retail interest wanes. Technical indicators suggest Bitcoin is holding key support levels but remains fragile, with potential for a price rally if it breaks $66,000 soon.

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