Bitcoin (BTC) cooled off US stocks on Thursday as technology sales tempered gains from low inflation.
Key points:
- Bitcoin follows US stocks as they break out of local highs triggered by bullish US inflation data.
- Technology selling pressure is helping to slow momentum as retail investors take profits.
- BTC price rebound is seen rejecting overhead resistance.
The sale of technology slows the rise of cryptocurrencies and risk assets
TradingView data showed BTC/USD hovering around $64,500, down 1.5% from its three-week highs seen the previous day.
BTC/USD one-hour chart. Source: Cointelegraph/TradingView
These had accompanied two consecutive days of lower-than-expected US inflation data, with falls in both the Consumer Price Index (CPI) and the Producer Price Index (PPI) in June.
While cryptocurrencies and stocks initially gained, tech stocks came under pressure on Thursday, with the closely watched Micron Technologies was down 15%.
“Micron is now down more than -30% from its June 22 all-time high,” trading resource The Kobeissi Letter commented in a response to.
Micron Technologies one-day chart. Source: Cointelegraph/TradingView
Kobeissi also highlighted action profit-taking by retail investors in technology stocks, with Tesla and Apple sales reaching $200 million in the past two weeks.
“Meanwhile, total retail turnover in individual stocks rose to a record $370 billion, up from $220 billion at the beginning of 2026,” he continued.
“Retail investors are locking in profits after a historic tech rally.”
Retail investor stock sales data. Source: The Kobeissi/X Letter
Previously, Cointelegraph reported on Bitcoin speculators taking advantage of recent local highs.
“Rejection” becomes the new BTC price keyword
As for the BTC price action itself, the mood among market participants remained conservative on the day.
Related: $107,000 Bitcoin Buyers Provide ‘Early Signs’ of 2026 Bear Market Bottom: Glassnode
Commenter Exitpump pointed to the anchored volume-weighted average price (AVWAP), measured from Bitcoin’s run to $82,000 in early May, as the level to end the current bounce.
“The price will eventually retest the AVWAP from the high of 82,000, leading to a strong local downtrend. For me, that retest should limit the upside and generate a stronger rejection,” they said. said X followers.
BTC/USD four-hour chart. Source: Pump Out/X
Trader and analyst Rekt Capital argued that BTC/USD was “showing initial signs of rejection” from its 50-month exponential moving average (EMA) at $65,900.
Rekt Capital reiterated the concept of current price behavior copying the 2022 bear market, having already warned that the next macro below It wouldn’t come until later in the year.
