Bitcoin price sinks to 2-week lows as US stocks fail to copy Asia rebound
Summary
Bitcoin fell to its lowest level in over two weeks, dropping 3.5% to about $62,369 as month-end volatility weighed on markets. US stocks opened weak, while Asian markets saw a sharp relief bounce led by South Korea’s KOSPI, which posted a record one-day gain before cooling. Traders noted rising crypto activity alongside swings in regional equities, reinforcing Bitcoin’s link to broader tech and risk sentiment. Bitcoin still finished July up 8.5%, its strongest July since 2022, but some traders warned August could mirror the 2022 bear-market pattern, with early strength giving way to another rollover. Bitcoin has repeatedly failed to break above its 50-month EMA near $65,820, which remains a key resistance level.
