Bitcoin drops to around $63,100 in a fourth straight day of losses; altcoins slide

Bitcoin BTC traded at $ 63,163.78 after a fourth consecutive daily drop to around $63,100, continuing a downward slide across crypto markets and marking the lowest since Feb. 6\u0027s $60,200, according to CoinDesk data. The decline coincided with risk-off sentiment from investors across global markets, as U.S. equities have lost ground this week and the dollar index (DXY) rose by 0.5% since Asian hours on Monday. BTC is down by 2.1% since midnight UTC and 4.7% over the past 24 hours, and the broader altcoin market also weakened on Tuesday, with BCH $ 478.21 dropping 11.5% over the past 24 hours and 3% since midnight UTC, while losses of more than 2% were seen across tokens including SUI, JUP, PUMP and WLFI. Analysts described the price action as a \u0022slow bleed\u0022 reminiscent of prior cryptocurrency bear markets, while the average crypto relative strength index (RSI) is flashing an \u0022oversold\u0022 signal that suggests potential for a bounce in the low $60,000 region.