Bitcoin fell 1.5% from local highs amid a reversal in US stocks as markets moved from bullish US inflation cues to retail profit-taking.
Bitcoin (BTC) cooled off with US stocks on Thursday as tech selling tempered gains from low inflation.
Data from TradingView showed BTC/USD circling $64,500, down 1.5% from its three-week highs seen the day prior.
BTC/USD one-hour chart. Source: Cointelegraph/TradingView
These had accompanied two straight days of lower-than-expected US inflation data, with both the Consumer Price Index (CPI) and Producer Price Index (PPI) dropping in June.
While crypto and equities initially gained, tech stocks came under pressure on Thursday, with the closely-watched Micron Technologies down 15%.
“Micron is now down over -30% since its June 22nd record high,” trading resource The Kobeissi Letter commented in a response on X.
Micron Technologies one-day chart. Source: Cointelegraph/TradingView
Kobeissi additionally noted profit-taking in action by retail tech-stock investors, with sales of Tesla and Apple hitting $200 million over the past two weeks.
“Meanwhile, the total retail turnover in single stocks rose to a record $370 billion, up from $220 billion at the start of 2026,” it continued.
Retail investor equity sales data. Source: The Kobeissi Letter/X
Earlier, Cointelegraph reported on Bitcoin speculators cashing in on the recent local highs.
Source
This article is syndicated for educational reading. For the latest updates, visit the original publisher.
Read on cointelegraph.com
