TLDR
- Bitcoin fell over 3% on Tuesday, dropping to around $63,494 — its lowest price since July 17
- A sharp selloff in AI-linked tech stocks, led by South Korea’s KOSPI falling 10%+, dragged crypto lower
- Traders are pricing in a 38% chance of a surprise Fed rate hike this week, with September hike odds above 80%
- Analyst Michaël Van de Poppe flagged BTC holding key moving average support at $64,289 and $63,261
- Whale wallets holding 10–10K BTC added nearly 20,000 BTC in just 8 days, according to Santiment
Bitcoin dropped more than 3% on Tuesday, hitting $63,494 — its lowest level in ten days. The move came as a selloff in AI-linked tech stocks spread across global markets and into crypto.
South Korea’s KOSPI index fell more than 10% as investors sold shares in AI chipmakers. Samsung Electronics and SK Hynix both dropped sharply on concerns about AI infrastructure spending and rising competition from Chinese memory-chip makers.
That pressure carried over into Bitcoin and other cryptocurrencies. Ethereum fell around 4.43%, Solana dropped 4.41%, and XRP was down 4.89% at the same time.
Fed Decision Adds Pressure
Markets are also watching the Federal Reserve closely. The Fed’s two-day meeting wraps up Wednesday, and traders are currently pricing in a 38% chance of a surprise rate hike this week. Expectations for a September hike have climbed above 80%, according to CME FedWatch data.
Higher interest rates typically reduce the appeal of assets like Bitcoin that don’t generate yield.
Bitcoin had already been struggling to hold its recent recovery. Continued outflows from US-listed spot Bitcoin ETFs have weighed on price throughout the past week.
On Sunday, BTC managed to hold its 21-day and 50-day simple moving averages, sitting at $64,289 and $63,261. Crypto analyst Michaël Van de Poppe said holding those levels was “a strong signal for the markets to be betting on the long side,” but added it was “still a little fragile.” He said he would want to see a push to $66,000–$67,000 over the next one to three days to confirm a stronger bid.
#Bitcoin continues to hold above the crucial 21-Day and 50-Day MA's.
This is a strong signal for the markets to be betting on the long side of this asset, however, it's still a little fragile.
I'd much prefer to see a strong move to $66,000-67,000 over the next 1-3 days to see… pic.twitter.com/Je1XOOLljd
— Michaël van de Poppe (@CryptoMichNL) July 27, 2026
Whale Accumulation Continues
On-chain data from Santiment showed that wallets holding between 10 and 10,000 BTC added 19,696 BTC over just eight days. Retail demand, by contrast, has been cooling — sub-0.01 BTC wallets showed less dip-buying activity. Santiment described the combination as “usually constructive,” with supply shifting toward stronger hands.
🐳 Bitcoin’s key stakeholders are accumulating. Wallets holding 10 to 10K BTC added 19,696 BTC in just the past 8 days.
🧊 Micro retail demand is cooling. Sub-0.01 BTC wallets are showing less dip-buying urgency, which often means late retail noise is fading.
📈 This… pic.twitter.com/Vr8XyLuNfK
— Santiment Intelligence (@SantimentData) July 27, 2026
Analyst Ali Charts also pointed out that Bitcoin’s 3-day Bollinger Bands are starting to squeeze. He noted that low-volatility periods like this are “often followed by a major price expansion.”
Bitcoin $BTC 3-day Bollinger Bands are starting to squeeze.
Periods of low volatility like this are often followed by a major price expansion. A big move could be just around the corner. pic.twitter.com/ytFoCBIedh
— Ali Charts (@alicharts) July 27, 2026
Earlier Monday, BTC had briefly approached $66,000 after news broke that the US and Iran had paused strikes. Both sides held off attacks since Sunday, and Iran’s foreign ministry confirmed talks with Oman about reopening the Strait of Hormuz. That relief rally faded by Tuesday.
QCP Capital noted that Bitcoin and Ethereum were still up roughly 11.6% and 24.6% month-to-date despite a challenging macro backdrop.
The most recent price for Bitcoin was $63,494, last recorded at 01:42 ET on July 28.
