Bitcoin (BTC) remained choppy at Tuesday’s open on Wall Street as U.S. stocks reacted to an earlier tech sell-off in Asia.

Key Points:

• Bitcoin bulls are trying to avoid a deeper drop below local lows amid volatility in risk assets.
• Multiple factors are being blamed for the stock’s current weakness and reset, and Micron’s earnings will be announced on Wednesday.
• Rolling cryptocurrency liquidations exceed $1 billion in 24 hours.

BTC price on edge amid stock volatility

Data from TradingView showed indecisive BTC price movements on low time frames, with $62,500 currently in focus.

BTC/USD Hourly Chart. Source: Cointelegraph/TradingView

The weakening Asian market resulted in two declines below the $62,000 level intraday and the stock suffered massive losses. The U.S. reaction was less intense, with the S&P 500 and Nasdaq Composite Index down 1% and 1.3%, respectively, at the time of writing.

One-hour chart of the S&P 500. Source: Cointelegraph/TradingView

Discussing the current situation and trading resources Kobeissi’s letter added expectations for tech giant Micron Technologies’ third-quarter earnings to the volatility lineup that will be released on Wednesday.

“Speculation on Micron’s earnings is a key driver of this volatility” – it he wrote in the post on X.

“The stock is now worth more than $1.2 trillion and is driving broader momentum-driven growth, largely driven by sentiment around Micron stock.”

One-day chart of Micron Technologies stock. Source: Cointelegraph/TradingView

Kobeissi attributed the market decline in Korea to legal concerns over unrealized profits, as well as increased leverage among traders.

“The result is increased volatility in both directions, which also explains why the S&P 500 is already up 60 points from its opening low,” he added.

“When you zoom out, the broader AI narrative has only strengthened, and market volatility is completely normal after the period we’ve just seen.”

VIX Volatility Index One-Day Chart. Source: Cointelegraph/TradingView

Bitcoin is driving a major surge in cryptocurrency liquidations

Still remaining within a narrow range, BTC price action surfed through areas of nearby liquidity, with both long and low positions paid.

Related: US Dollar Strength Highest Since May 2025: Five Things to Know About Bitcoin This Week

Data from CoinGlass estimated 24-hour cryptocurrency liquidations at almost $700 million.

“$65,000 was indeed not held, which quickly moved that amount down to liquidity below $62,000,” trader Daan Crypto Trades commented when analyzing the numbers.

Crypto liquidations (screenshot). Source: CoinGlass

Analyst account CryptoReviewing called the liquidity imbalance between long and low positions “ridiculous,” noting that the 24-hour balance reached $1 billion on Tuesday.

“Bulls can get excited about what happens next,” X predicts with a video update.