Bitcoin Falters Near $63K Amid US Stock Slide, Micron Tech Leads Semiconductor Declines

Bitcoin (BTC) hovered around $63,000 on Tuesday after reaching its highest level in about two weeks at $64,660.

The price of BTC pulled back from its peak as US stock indexes slid in early trading, led by semiconductor stocks such as Micron Technologies, which fell more than 9%.

Despite the dip, BTC's pullback remained orderly due to net inflows into US spot Bitcoin exchange-traded funds (ETFs) for a second consecutive day, according to Farside Investors.

Trader Daan Crypto Trades noted that the correlation between BTC and the Nasdaq had shifted from -0.87 to +0.72 over the past week, indicating a change in how traders are positioning themselves intraday.