[DigitalToday reporter Chi-gyu Hwang (황치규)] Bitcoin fell below $63,000 as U.S. markets opened, marking its lowest level in 10 days. Cointelegraph reported on July 28 that a sharp drop in Asian semiconductor stocks spread to U.S. technology shares, with the cryptocurrency market also weakening.

Bitcoin fell below $63,000 for the first time since July 17. At the same time, the Nasdaq Composite Index fell more than 1 percent. Micron Technology slid more than 10 percent early in the session before giving back all of its rebound, with its share price falling to its lowest level since May 22.

The shock in Asian markets was also significant. South Korea's KOSPI index fell 10.8 percent in a day, and SK Hynix dropped 14.8 percent. Japan's memory maker Kioxia Holdings also fell 18.3 percent the same day.

Behind the weakness in semiconductor stocks are questions about the sustainability of big cloud companies' investment in artificial intelligence infrastructure. The combined 2026 capital expenditure guidance from Alphabet, Microsoft, Amazon and Meta is about $725 billion to $730 billion. Wall Street believes the figure could rise to $900 billion in 2027. Alphabet's cloud division grew 82 percent in the second quarter, but it posted a record first cash outflow of $5.9 billion over the same period.

Cryptocurrency derivatives markets also wobbled. Based on Coinglass data, long position liquidations in the cryptocurrency market over the past 24 hours exceeded $510 million.