Bitcoin falls under $63,000 as tech stock selloff drags crypto lower

Bitcoin dropped to $62,840 as a broad retreat from technology and AI stocks spread to global markets. South Korea's Kospi fell 6% and crypto fell alongside, with bitcoin down 3.5% on the week and ether, solana and dogecoin also posting losses.

• Bitcoin traded at $62,840, down 1.1% in 24 hours and 3.5% on the week
• A rotation out of AI and chip stocks sank Asian markets, with South Korea's Kospi down 6%
• Ether fell 0.9% to $1,719, solana lost 3.4% to $71, and dogecoin slid 6.6% on the week
• The Coinbase premium (BTC price gap vs other exchanges) turned negative, signaling weak US institutional demand
• Analysts flag Micron earnings on Wednesday and the June jobs report on July 2 as key macro tests

Coinporta summarises news for fast scanning. Full reporting belongs to the source.