Bitcoin falls below $62,000 as tech selloff hits risk assets
What's new: US spot Bitcoin ETFs have bled $2.4 billion in June, while Ether, Solana and XRP also slid.
Bitcoin fell as much as 3.9% to $61,877 on Tuesday, its lowest level since June 11, as a broad selloff in technology stocks spread across risk assets. The token later trimmed losses to about $62,300 in New York trading. Ether dropped as much as 5.6%, while Solana and XRP also fell. The retreat tracked a sharp decline in the Nasdaq 100, which slid as much as 3.4% as worries resurfaced over heavy spending by AI companies. Pressure also came from persistent outflows from US-listed spot Bitcoin exchange-traded funds, which have lost $2.4 billion so far in June. Shares tied to crypto weakened too, including Strategy, Coinbase Global and Circle Internet Group.