BTC drops 0.31% in 15 minutes: Burry’s shorting of chip stocks sparks a flight-to-safety sentiment

From 23:30 to 23:45 (UTC) on July 27, 2026, BTC fell 0.31% within 15 minutes. The price ranged from 63,636.3 to 63,924.6 USDT, with a range of 0.45%. Over the past 24 hours, BTC dropped from a $65,744 high to around $63,741.9, for a cumulative decline of 2.59%, as market volatility intensified.

The main driver behind this abnormal move was that Michael Burry expanded his short positions in chip stocks, prompting a retreat in hedging for risk assets. This well-known investor—famous for shorting the subprime mortgage crisis—intensified his bearish bets, which the market interpreted as a strong negative signal for tech stocks and even the broader outlook for risk assets. Sentiment spilled over into the crypto market, leading some traders to reduce their risk exposure. At the same time, a pause in the military conflict between the U.S. and Iran lowered expectations for extreme geopolitical risk; oil prices promptly fell 6.3%, weakening near-term demand for Bitcoin as a hedge against geopolitical crises. Funds rotated into traditional safe-haven assets such as gold, and the gold price rose 0.59% over the same period.

In addition, Ethereum led the crypto market; the ETH/BTC ratio reached a three-month high, reflecting internal capital rotation. Some capital moved from BTC—whose market capitalization is larger—toward ETH, which tends to be more responsive, in search of higher returns. With the upcoming Fed meeting, the market broadly expects interest rates to remain unchanged, but uncertainty around energy prices complicates decision-making, causing traders to lean toward waiting. Current order book depth is relatively balanced versus 0.91; near $63,790, a large buy wall has been detected, which may provide short-term technical support.

In the short term, closely monitor the Fed’s wording, the situation in the Strait of Hormuz, and progress on indirect U.S.-Iran negotiations. If the situation unexpectedly escalates, it could reignite hedging demand. Key support levels to watch include the $63,790 large buy wall and the 24-hour low of $63,679.2; a breakdown could push BTC toward the $63,000 psychological level. Overhead resistance sits at $65,744 and $64,818.9. If the ETH/BTC ratio continues to rise, it may further increase pressure on a BTC pullback.