Bitcoin Drops 2.7% to $63,200 as Kospi Sinks 10% and Senate Delays CLARITY Act
Updated
Updated · CoinDesk · Jul 28
Bitcoin Drops 2.7% to $63,200 as Kospi Sinks 10% and Senate Delays CLARITY Act
1 articles · Updated · CoinDesk · Jul 28
Summary
$63,200 marked bitcoin’s latest slide, down from nearly $65,000 as losses spread across ether, XRP and solana after U.S. markets closed Monday.
A 10% plunge in South Korea’s Kospi — now 25% below its mid-June peak — drove a broader Asian equity sell-off that fed risk-off pressure into crypto.
Washington added another headwind after the Senate shelved the CLARITY Act to prioritize a Russia sanctions bill, likely pushing any crypto-legislation vote to next week before the Aug. 8 recess.
Wednesday’s Fed decision and Thursday’s GDP and Core PCE data are now the week’s main volatility trigger, with analysts saying bitcoin tends to track stocks when macro and rate stress dominate.
As technical indicators scream oversold, will the upcoming Federal Reserve rate decision trigger a massive crypto rebound or break critical support levels?
With Bitcoin plunging alongside Asian tech stocks, has the original cryptocurrency completely lost its safe-haven status to become another high-risk asset?
Why did a tiny $2.5 million Bitcoin sale by a major corporate holder suddenly shatter market confidence and accelerate a massive crypto selloff?