Bitcoin fell toward $62,000 on Wednesday as a second day of heavy technology selling kept pressure on risk assets.
The token traded near $62,546, down 2.1% on the day and 4.9% on the week. Ether dropped 3.7%, XRP lost 2.2%, solana shed 3.3%, and dogecoin slumped 9.8% over seven days. Hyperliquid's HYPE token plunged 8.8%.
The Philadelphia Semiconductor Index tumbled 7.9%, dragging the S&P 500 down 1.4% and the Nasdaq 100 down 3.3%. Brent crude slipped toward $76 a barrel as Strait of Hormuz traffic resumed after a US-Iran interim deal, while the dollar index hit a seven-month high.
US spot bitcoin ETFs recorded a historic $6 billion in 30-day net outflows-a sign of sustained institutional de-risking, according to analysts. A $10.6 billion bitcoin options expiry on Deribit approaches Friday, with nearly 80% of positions out-of-the-money, clustered around a $60,000 put and $80,000 call.
Bitcoin held above the psychological $60,000 floor, but analysts say relief rallies face a hard ceiling until ETF flows reverse.