Bitcoin gets new $54K warning as BTC price hits 11-day low on Asia tech sell-off
Bitcoin fell to near two-week lows, dropping below $62,000 as Asian equities sold off sharply in a tech-led rout. South Korea’s stock index slid about 10% and Japan’s Nikkei 225 nearly 4%, adding pressure to risk assets. BTC briefly hit $61,860 after failing to sustain a move above $65,500, reinforcing short-term bearish momentum. Traders noted support near $60,000, while others warned a close below $64,000 could open a path toward $54,000. Despite the price swings, crypto options markets remain subdued. QCP Capital said volatility has stayed muted through nearly a month of range-bound trading, with options pricing suggesting little conviction that current catalysts can break BTC out of its range. Seasonal effects and Friday’s quarterly options expiry may keep implied volatility soft in the near term.
