Bitcoin drops to $62,000 as tech stock selloff pressures crypto markets for second day
By
Shaurya Malwa
Summary
Bitcoin fell toward $62,000 as a second day of heavy selling in technology stocks, particularly semiconductor stocks, kept pressure on risk assets. The broader crypto market saw widespread losses, with ether, XRP, solana, dogecoin, and Hyperliquid's HYPE all declining significantly. Bitcoin is down 4.9% on the week, sliding back toward the lower end of its monthly range.
Source
bskyBitcoin drops to $62,000 as tech stock selloff pressures crypto markets for second daycoindesk.comKey quotes
· 3 pulledBitcoin fell toward $62,000 on Wednesday as a second day of heavy selling in technology stocks kept pressure on risk assets worldwide.
The token traded around $62,546, down 2.1% over 24 hours and 4.9% on the week, per CoinDesk data, sliding back toward the lower end of the range it has held all month.
Hyperliquid's HYPE was the worst hit, down 8.8% on the day and 18.6% on the week
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