Bitcoin Dips Below $63,000 as Asia Chip Rout Fuels Global Risk-Off

Bitcoin fell to a 10-day low as U.S. trading began Tuesday, sliding in step with a broader risk-off move sparked by a sharp selloff in Asia-linked equities and deep losses across semiconductor stocks. BTC weakened alongside U.S. equity futures into the opening bell, with traders focused on renewed pressure across global technology and AI supply chains. The downturn also hit crypto positioning. CoinGlass data showed more than $510 million in long liquidations over roughly 24 hours as the decline accelerated. The move pushed BTC/USD below $63,000 for the first time since July 17, setting fresh levels for traders to monitor as the market gauges whether selling pressure follows through. Chip losses spread from Asia to the U.S. Semiconductor-heavy markets led the equity reversal in Asia. South Korea’s KOSPI closed down 10.8% for the session, while SK Hynix dropped 14.8%, signaling a rapid repricing of expectations for memory and chip-related demand. Japan’s Kioxia Holdings sank 18.3%, pointing to a broader reset across parts of the semiconductor supply chain. In U.S. trading, the Nasdaq Composite was down more than 1% at the time of writing. Micron Technologies fell more than 10% at the open, failed to hold a rebound, and traded at its lowest level since May 22. AI capex faces tougher scrutiny A key driver behind the equity drawdown is growing skepticism about the payback period for hyperscaler AI spending. Investors are questioning whether the economics of large-scale AI infrastructure builds can support the scale and pace of current capital expenditure plans. Coverage cited in the source said combined 2026 capex guidance from Alphabet, Microsoft, Amazon, and Meta was trending around $725–730 billion, with Wall Street projections indicating it could climb toward $900 billion in 2027. The report also noted Alphabet posted its first recorded quarterly cash burn in Q2, totaling $5.9 billion, even as its cloud business grew 82%. For crypto markets, the linkage is familiar: when equities sell off on doubts about AI returns, high-beta assets like Bitcoin often face correlated pressure, especially when leverage is elevated. Competition from open-source AI added another source of uncertainty. The source highlighted Moonshot AI’s Kimi K3 open-source model, launched two weeks before the report timeframe and benchmarked against leading proprietary systems from Anthropic and OpenAI. The takeaway being debated is that if comparable capabilities can be achieved at lower cost, assumptions underpinning Western hyperscaler spending could prove less reliable. Liquidations intensify as BTC breaks support Macro pressure carried into crypto through U.S. hours. TradingView data referenced in the source showed BTC/USD slipping under $63,000, while derivatives flows sped up as leveraged traders were forced out. CoinGlass reported long liquidations exceeding $510 million over 24 hours, consistent with downside moves where stop-losses and margin calls cascade. CoinAnk commentary cited in the source warned of a potential long liquidation cascade below $64,700, saying "extremely large long liquidity has accumulated below this level." CoinAnk also described $65,800–$66,200 as a "major short liquidation zone," suggesting less immediate resistance to upside moves if price recovers. What comes next Bitcoin’s near-term direction is likely to hinge on whether equity-market stress stabilizes or deepens as investors reassess hyperscaler capex and AI infrastructure return assumptions. Traders will be watching whether BTC can reclaim broken levels or whether liquidation-driven volatility extends through the zones highlighted by CoinAnk, alongside broader forced selling tracked by CoinGlass.