Bitcoin (BTC) cooled along with U.S. stocks on Thursday, as tech sales tempered gains linked to low inflation.
Key points:
- Bitcoin tracks US stocks as they hit local highs triggered by bullish US inflation data.
- Sales pressure from technology products is helping to slow momentum as retail investors take profits.
- The BTC price rebound appears to be rejected at overhead resistance.
Tech sell-off curbs rise in cryptoassets and risk assets
Data from TradingView showed BTC/USD hovering around $64,500, down 1.5% from its three-week highs seen the day before.
BTC/USD one hour chart. Source: Cointelegraph/Trading View
These had accompanied two consecutive days of US inflation data weaker than expectedwith a decline in the consumer price index (CPI) and the producer price index (PPI) in June.
While crypto and stocks initially gained, tech stocks came under pressure on Thursday, with the closely monitored Micron Technologies down 15%.
“Micron is now down more than 30% since its record high on June 22,” commented trading resource The Kobeissi Letter in a statement. answer on.
Daily chart of Micron Technologies. Source: Cointelegraph/TradingView
Kobeissi also highlighted profit-taking by retail investors in technology stocks, with sales of Tesla and Apple reaching $200 million in the past two weeks.
“Meanwhile, total retail turnover in individual stocks hit a record high of $370 billion, up from $220 billion at the start of 2026,” it continues.
“Retail investors lock in gains following historic tech rally.”
Retail investor stock sales data. Source: La Lettre de Kobeissi/X
Earlier, Cointelegraph reported on Bitcoin speculators taking advantage of recent local highs.
“Rejection” becomes the new keyword for BTC price
As for the BTC price action itself, the mood of market participants remained conservative on the day.
Related: Bitcoin buyers at $107,000 provide ‘early signals’ of 2026 bear market bottom: Glassnode
Commentator Exitpump pointed to the volume-weighted average price (AVWAP), measured from Bitcoin’s run to $82,000 in early May, as the level to end the current rally.
“Price will finally retest AVWAP from the high of 82,000, which leads to a strong local downtrend. To me, such a retest should cap the upside and give rise to a stronger rejection,” they said. said X subscribers.
BTC/USD four-hour chart. Source: Exitpump/X
Trader and analyst Rekt Capital argued that BTC/USD was “showing early 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, after previously warning that the next macro at the bottom would not arrive until later in the year.
