Bitcoin struggles to hold above $62,500 amid broader market volatility ahead of Micron’s Q3 earnings report on Wednesday.
Bitcoin (BTC) traded near $62,500 on Tuesday as bulls fought to prevent a breakdown below key support levels. The cryptocurrency’s price action mirrored broader risk-asset volatility, with US equities reacting to earlier losses in Asian tech stocks. The S&P 500 and Nasdaq fell 1% and 1.3%, respectively, at the Wall Street open.
Crypto liquidations surpassed $1 billion over the past 24 hours, reflecting heightened market uncertainty. Analysts cited Micron Technologies’ upcoming Q3 earnings guidance as a potential catalyst for further volatility, with the company’s market cap exceeding $1.2 trillion. BTC dipped below $62,000 twice during the session before stabilizing.
Traders remain cautious as Micron’s earnings report, due Wednesday, could influence tech sector sentiment and broader market direction. The stock’s performance is closely watched amid ongoing macroeconomic uncertainty.