Crypto Prices Today: Bitcoin Near $62,557, ETH Below $1,800 After Nasdaq Rout

Crypto markets extended their decline on June 24 as investors reduced exposure to risk assets following a sharp selloff in technology stocks. Bitcoin traded near $62,557, while Ethereum remained below the key $1,800 level, reflecting broader weakness across digital assets. The latest drop came as the Nasdaq suffered one of its biggest declines in weeks, causing a ripple effect across crypto markets and triggering large-scale liquidations.

Crypto Prices React to Nasdaq Selloff and Risk-Off Sentiment

The pressure on Crypto Prices intensified after the Nasdaq lost more than 2%, wiping out over $1 trillion in market value from major technology stocks. Market participants shifted toward safer assets as concerns over interest rates and technology sector valuations increased.

Bitcoin hovered around $62,557 to $62,700, down nearly 3% in 24 hours, while Ethereum slipped below $1,800 and traded closer to the $1,650 to $1,700 range. The broader crypto market also moved lower as traders reduced leveraged positions.

Why are crypto assets following tech stocks?

The answer is simple. In recent months, Bitcoin and major cryptocurrencies have shown a stronger correlation with growth and technology stocks. When investors sell high-risk tech shares, digital assets often face similar selling pressure.

Crypto Prices Face Heavy Liquidations and ETF Outflows

• One of the biggest drivers behind the decline was forced selling across leveraged positions.
• More than $717 million in crypto liquidations were recorded during the latest market drop, adding further downside pressure to Bitcoin, Ethereum, and major altcoins.
• Investor sentiment also weakened significantly, with market fear indicators moving into extreme fear territory.
• Another concern is institutional demand. US spot Bitcoin ETFs have now recorded six consecutive weeks of outflows, with withdrawals exceeding $4.4 billion.
• This trend suggests large investors remain cautious despite Bitcoin holding above the important $60,000 support zone.
• According to reports discussed by Yahoo Finance, Bitcoin remains vulnerable to additional weakness if broader equity markets continue to decline and risk appetite remains subdued.

Crypto Prices: Key Levels Investors Are Watching

Technical data suggests that Bitcoin remains at a critical support area. Bitcoin support currently sits near $62,000, while resistance is seen around $65,000 and $66,500. A move below $60,000 could increase selling pressure across the market.

For Ethereum, traders are closely watching the $1,600 level. ETH support remains near $1,600, while a recovery above $1,800 would improve short-term sentiment. Until then, volatility may remain elevated. Other major cryptocurrencies also weakened. Solana traded near $69 after falling about 4% to 7%, while XRP remained around $1.11 amid the broader market correction.

Crypto Prices Outlook: What the Latest Market Data Means for Investors

The current decline highlights how closely crypto markets remain linked to global financial conditions. Bitcoin has managed to hold above the psychologically important $62,000 level, but investors are still facing multiple headwinds. Rising rate expectations, persistent ETF outflows, weaker technology stocks, and liquidation-driven selling continue to weigh on sentiment. At the same time, Ethereum’s inability to reclaim $1,800 shows that buyers remain cautious. While long term adoption trends remain intact, short term volatility is likely to stay elevated. Investors should closely monitor Nasdaq performance, institutional fund flows, and key support levels. If Bitcoin holds above $62,000 and ETF demand stabilizes, the market could find a base. However, another wave of equity market weakness may push digital assets lower before a sustainable recovery begins.

Disclaimer

The content shared by Meyka AI PTY LTD is solely for research and informational purposes. Meyka is not a financial advisory service, and the information provided should not be considered investment or trading advice.