Bitcoin fell sharply in early Asian trading on Tuesday, dropping as much as 2.3% to $63,414 by 9 a.m.
The sell-off was driven by growing investor anxiety over the prospect of higher interest rates, with markets increasingly pricing in a less accommodative monetary policy stance.
Bitcoin has fallen to its lowest level in 21 months, trading near $57,735 on Bitstamp during early trading hours.
This repricing of rate expectations has weighed heavily on risk sentiment, prompting a broad pullback from digital assets as investors seek safer havens.
The decline marks a significant break from weeks of relative stability, as the flagship cryptocurrency succumbed to broader macro headwinds.
Bitcoin has fallen to its lowest level in 21 months, trading near $57,735 on Bitstamp during early trading hours.
This breach of support levels underscores the vulnerability of speculative assets to shifts in the interest rate outlook, particularly when liquidity conditions tighten.