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Bitcoin (BTC) traded at $63,563.52 on Tuesday after failing to hold above $65,500, pushing the price back toward a key late-July support zone. The decline followed a sharp chip-stock rout across Asia, while Bitcoin futures open interest (OI) slipped to about $47.4 billion as leveraged positions were closed. The drop in leverage reduces some liquidation risk, but weak spot demand still leaves the recovery unconfirmed.
South Korea’s KOSPI plunged more than 10% as Samsung Electronics and SK Hynix fell around 13% during a wider semiconductor retreat. Japan’s Nikkei 225 dropped 4.3%, while Taiwan’s Taiex lost 4.7%, extending the pressure across major Asian technology markets.
Losses in US semiconductor stocks, positioning ahead of the US Federal Reserve’s rate decision, and earnings from four Magnificent Seven companies added to the pressure. Bitcoin followed risk assets lower and returned toward the $63,000 support zone.
🚨 BLOODBATH on Asian Markets
Over $900 BILLION has been wiped out from Asian stocks.
Here's why Asian markets are crashing:
1. China's DUV chipmaking breakthrough is fueling concerns that South Korea's dominance in memory chips.
2. The sell-off in semiconductor and… pic.twitter.com/Cqlo6zkuxP
— Bull Theory (@BullTheoryio) July 28, 2026
Bitcoin moved from an intraday high near $65,576 to a low around $63,054, leaving the $63,000 level as the immediate test. That zone also sits close to the 50-day simple moving average (SMA) near $63,275. A daily close below it would expose $62,000 and the earlier July support around $61,000, while buyers need to reclaim the $64,900-$65,000 region to repair the short-term structure.
Everyone was calling for $70,000 a few days ago.
Now Bitcoin has lost $64,000.
Funny how quickly sentiment changes.
I think $63,000 is the level to watch.
Hold it and this probably turns into another shakeout.
Lose it, and I wouldn't be surprised to see $61,000 before we see… pic.twitter.com/DuxOx0IFTl
— That Martini Guy ₿ (@MartiniGuyYT) July 28, 2026
CoinGlass data showed total Bitcoin OI near $47.48 billion at the time of writing, while 24-hour Bitcoin futures liquidations stood around $148.1 million. The simultaneous decline in price and OI suggests traders were closing contracts rather than adding leveraged positions. Lower open interest reduces the pool of positions vulnerable to forced liquidation, though it does not establish fresh spot demand.
Exchange-traded fund (ETF) data still points to weak spot demand. US spot Bitcoin ETFs recorded $225.18 million in net outflows on July 23, $240.08 million on July 24, and $11.64 million on July 27. The three-session total reached $476.9 million. Lower derivatives leverage removes some fuel for forced selling, yet continued ETF withdrawals leave the defense of $63,000 reliant on renewed spot buying.
Bitcoin ETFs Post $11.6 Million Outflow as Ether Funds Add $9.2 Million
U.S. spot Bitcoin ETFs recorded net outflows of USD 11.64 million on July 27, according to SoSoValue, with BlackRock’s IBIT posting the largest single-fund outflow at USD 8.82 million. Spot Ethereum ETFs… pic.twitter.com/XSe7OqjbWX
— Wu Blockchain (@WuBlockchain) July 28, 2026
Derivatives leverage has declined, but ETF demand and Bitcoin’s short-term price structure remain weak. Holding $63,000 while OI stabilizes would indicate that selling pressure is easing. A break below support alongside rising OI would carry greater risk because traders would be adding fresh leverage while the price is falling.
The Federal Reserve will publish its July 28-29 policy decision at 2:00 pm ET on Wednesday, followed by a press conference at 2:30 pm ET.
The US Bureau of Economic Analysis will release its advance second-quarter GDP estimate and June personal income and outlays report, including the Personal Consumption Expenditures (PCE) inflation measure, at 8:30 am ET on July 30.
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