Bitcoin Price Prediction: BTC Slides in Asian Hours, Moving in Tandem with Korean KOSPI

Bitcoin price is trading near $63,480 as selling accelerated during the Asian session, sending BTC prediction slipped into a bearish area. The move reflects rising caution across risk assets rather than a crypto-specific event.

South Korea’s KOSPI fell sharply, pressuring major chipmakers including Samsung and SK Hynix. That sparked another round of risk-off trading across global markets. Bitfinex analysts noted Bitcoin often tracks equities during macro-driven selloffs but can decouple during company-specific events.

KOSPI JUST CRASHED AND HALTED ALL TRADING FOR THE 9TH TIME THIS YEAR.

₩500 trillion has been wiped out from Korean stocks today as KOSPI crashes 8%, triggering a circuit breaker and halting all trading for 20 minutes.

This is landing on top of several things at once.

China's… pic.twitter.com/QncIlfH9q3

Even so, today’s market has kept the correlation intact. Meanwhile, the U.S. Senate has delayed action on the CLARITY Act while prioritizing a Russia sanctions bill, removing a near-term regulatory catalyst for crypto.

Attention now shifts to Wednesday’s Federal Reserve rate decision. Traders will also watch Thursday’s Core PCE inflation report and second-quarter GDP data. Together, those releases are expected to shape expectations for interest rates and likely determine Bitcoin’s next major move.

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Bitcoin is trading near $63,400, holding just above the key $63,000 support level. The past 24 hours saw a range between $63,038 and $65,598. Sellers continue defending the upper end, while buyers have kept $63,000 intact. A confirmed break below that level could expose $60,000, with stronger support waiting between $54,000 and $57,000.

Technically, BTC remains locked inside a consolidation range between $61,000 and $66,000. Some analysts still see a bear flag that could resolve lower if selling pressure persists. However, a weekly RSI bullish divergence near the 200-week SMA continues to support the longer-term recovery case. Similar setups have previously appeared near major cycle lows.

A bullish outcome would require Bitcoin to reclaim and hold above the $65,600 resistance zone after the Federal Reserve decision. That could open the door to a move toward the low $70,000s, with $79,000 remaining a possible upside target if momentum strengthens.

The base case remains range-bound trading between $61,000 and $66,000 until key macro data arrives. Thursday’s Core PCE inflation report could provide the next directional catalyst. On the downside, a confirmed close below $63,000, combined with continued weakness in Asian equities, would increase the odds of a retest of $60,000.

The CLARITY Act delay remains a meaningful headwind. Some institutional participants had viewed the legislation as a supportive near-term catalyst. With that timeline pushed back, traders are focusing instead on macro events and whether risk appetite returns after this week’s data releases.

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