Bitcoin slipped near the $63,000 mark on Wednesday as a chip stock sell-off, ETF outflows, $510 million liquidations and Fed uncertainty weighed on sentiment. The cryptocurrency was trading at the $63,973 mark.In the past 24 hours, Bitcoin was up 0.88% and Ethereum was up 1.43% to trade at the $1,910 mark. Among the major altcoins, BNB, XRP, Solana, Tron, Dogecoin, and Cardano gained up to 5.14%, whereas Hyperliquid was down 1.40%.Also Read | Varun Beverages shares jump 3% after Q1 PAT rises 15%, revenue grows 20%Crypto TrackerTOP COINS (₹) 182,887 (1.49%)6,150,223 (1.22%)54,480 (0.69%)96 (-0.21%)95 (-0.23%)Bitcoin is consolidating around the $63,700 level after briefly falling to a 10-day low near $63,000, as a sharp sell-off in Asian semiconductor stocks spilled over into Wall Street and the crypto market, said Akshat Siddhant, Lead quant analyst, Mudrex.Siddhant further said that the decline triggered more than $510 million in liquidations, while continued outflows from US spot Bitcoin ETFs further weakened investor sentiment. Moreover, the uncertainty around the Federal Reserve's interest rate outlook continues to keep traders cautious.The global crypto market capitalisation went up 0.62% to $2.19 trillion, according to CoinMarketCap. The pause in spot Bitcoin ETF inflows after an extended streak has also prompted participants to reassess near-term positioning, while Ethereum has cooled ahead of the Federal Reserve’s policy decision and XRP continues to trade within a range as investors await a stronger directional trigger, said Avinash Shekhar, Co-Founder & CEO, Pi42.Despite the short-term weakness, institutional interest in digital assets remains intact, suggesting that the broader market continues to be driven by macroeconomic cues rather than any structural deterioration in the crypto ecosystem, Shekhar further said.In the past week, Bitcoin and Ethereum were down 2.98% and 0.46%. Among the major altcoins, BNB, XRP, Solana, Tron, Hyperliquid, Dogecoin, and Cardano corrected up to 7.16%.Nischal Shetty, founder, WazirX, said the crypto market has entered a phase of heightened caution as investors reposition ahead of the Federal Reserve's policy decision, and the decline has been driven by a combination of rising liquidation activity, softer institutional flows, and a broader risk-off sentiment that has weighed heavily on global technology stocks.Markets have sharply repriced expectations for U.S. monetary policy, with the probability of a 25-basis-point rate hike increasing materially over the past week, Shetty further said.Also Read | Can a Rs 31,000 monthly SIP help you build a Rs 10 crore corpus? Expert explainsMarket perspectiveVikram Subburaj, CEO, Giottus: Bitcoin traded near $63,620 on Wednesday, gaining about 0.8% over 24 hours, as investors maintained cautious positions before the Federal Reserve’s policy decision. The recovery remains modest after Bitcoin retreated from last week’s local high near $66,700.CoinSwitch Markets Desk: BTC briefly fell below $63K as a sharp sell-off in Asian equities and the Senate’s delay of the CLARITY Act weighed on market sentiment, before recovering towards $64K. Near-term price action will likely be driven by the Fed’s policy decision and commentary, alongside core PCE inflation, second-quarter GDP data and earnings from major technology companies.Riya Sehgal, Research Analyst, Delta Exchange: Crypto markets are consolidating after the recent correction, with Bitcoin attempting to recover from key support while remaining below the $64,500-65,500 resistance zone. Ethereum is also rebounding, with immediate resistance at $1,945-1,970 and support around $1,865-1,880.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times.)