Bitcoin slips 2% after U.S. close as Kospi plunges 10%
Bitcoin fell about 2.7% to around $63,200 after the U.S. market close, extending losses across major coins. The drop follows a sharp risk-off move in Asian equities, led by South Korea’s Kospi, which slid 10% to the lowest level since mid-April.
Bitcoin’s weakness pulled down ether (ETH), XRP, and solana (SOL), ending earlier resilience seen earlier in the session. Traders also pointed to broader equity stress, including a selloff in chip-related stocks.
On policy, the U.S. Senate delayed action on the CLARITY Act, prioritizing a Russia sanctions bill. That makes a vote on crypto regulatory legislation less likely before next week, ahead of the Aug. 8 recess.
Volatility risk remains high. Analysts expect Bitcoin to trade with equity markets when macro and interest-rate pressures dominate. Attention now turns to the Federal Reserve decision on Wednesday and key U.S. data on Thursday (Core PCE and GDP), which could drive cross-asset repricing.
Key implication: Bitcoin sentiment looks pressured near-term, with catalysts from both policy timing and the Fed likely to amplify moves.
Bearish
The article links Bitcoin weakness to a classic risk-off tape: U.S. post-close selling and a sharp Asian equity drop (Kospi -10%). That kind of macro-driven stress has historically pressured crypto beta assets like Bitcoin, especially when rates and growth expectations are in play.
Add the policy angle: delaying the U.S. CLARITY Act reduces the near-term probability of “regulatory clarity” catalysts that traders often price into institutional adoption narratives. With the vote likely pushed toward next week, the market has less near-term upside momentum from regulation headlines.
For trading, the main immediate driver is macro volatility. The Fed decision on Wednesday and Core PCE/GDP on Thursday can trigger fast repricing across equities, rates, FX, and Bitcoin. Similar episodes in past rate-decision windows have often produced whipsaw price action: initial selloffs can extend on risk repricing, then reverse quickly if the market interprets the guidance as less hawkish than feared.
Net: bearish bias for the next few sessions, with elevated volatility risk rather than a smooth trend.