Bitcoin Slides Under $64,000 Again as $100 Million Liquidated in an Hour

Bitcoin’s Third Break Below $64,000 This Week

The $64,000 level has go a battleground of sorts for bitcoin traders implicit the backmost fractional of July. To this point, Bitcoin.com News reported a slide beneath the level precocious past week erstwhile the plus retreated from astir $67,000 and triggered an $87 cardinal liquidation event, divided betwixt $70 cardinal successful agelong positions and $17 cardinal successful shorts.

Three days later, bitcoin failed 3 abstracted attempts to wide absorption astatine $65,500, which pushed full 24-hour liquidations to $75 cardinal arsenic the terms slipped backmost to a league debased of $64,336. Today’s determination follows that aforesaid publication arsenic astir $100 cardinal was liquidated wrong a azygous hour, faster than either of the anterior 2 episodes this week.

KOSPI’s Chip-Stock Rout Adds to the Risk-off Mood

The liquidations coincided with a crisp selloff successful South Korean equities, with the KOSPI dropping 8.02%, oregon 542.24 points, to 6,213.51, triggering the index’s eighth circuit breaker of the year connected the backmost of a plunge successful U.S. semiconductor stocks. It was the latest successful a drawstring of chip-driven routs this month; a akin KOSPI selloff connected July 13 marked the exchange’s seventh circuit breaker of 2026.

Crypto and semiconductor equities person moved successful tandem for overmuch of the year. Coverage of a mid-July selloff, erstwhile the Philadelphia Semiconductor Index unwound gains built connected AI infrastructure enthusiasm, noted that “over the past 2 years, crypto has progressively traded arsenic a high-beta hold of the tech sector.”

That aforesaid occurrence saw bitcoin autumn 1.2% to beneath $63,000 alongside a broader tech drawdown, erstwhile again demonstrating however swings successful Seoul and connected Wall Street’s spot desks person repeatedly spilled into digital-asset prices.

Traders Now Eye the Fed’s Rate Call

The bigger catalyst whitethorn inactive beryllium up fixed that the Federal Reserve, nether Chair Kevin Warsh, opened its two-day gathering connected July 28 with the national funds complaint parked astatine 3.50%-3.75% for a 4th consecutive meeting, and outlooks connected the timing of immoderate 2026 complaint chopped person already been pushed aboriginal crossed respective forecasts.

A argumentation connection is expected tomorrow, with Bitcoin.com News flagging the Fed’s decision, alongside the pending Digital Asset Market Clarity Act ballot and 2 anticipated Bitcoin forks successful August, arsenic converging catalysts that could thrust sharper terms swings into month-end.

That said, nary of those catalysts person resolved yet, which helps explicate wherefore $64,000 keeps getting tested from some sides alternatively than breaking decisively. Options and leverage positioning has clustered betwixt the $65,000 and $70,000 strikes, meaning traders are inactive betting connected a betterment adjacent arsenic short-term liquidations heap up astir the little extremity of that range.

Lastly, anemic spot bitcoin exchange-traded money (ETF) inflows and Strategy Inc.’s determination to clasp $544.5 cardinal successful currency alternatively than adhd to its bitcoin treasury are besides being cited arsenic tangible headwinds that traders are apt to dainty arsenic the adjacent existent trial of whether enactment holds.