Bitcoin (BTC) fell on U.S. stock markets on Thursday as technology sales eroded gains from low inflation.
Key Points:
- Bitcoin follows US stocks as they fall from local highs triggered by bullish US inflation data.
- Pressure to sell technology is contributing to slowing momentum as retail investors take profits.
- The BTC price rebound is seen as a rejection at overhead resistance.
Technology sales are hampering cryptocurrencies, increasing the risk of the asset
Data from TradingView showed BTC/USD hovering around $64,500, down 1.5% from the previous day’s three-week highs.
BTC/USD Hourly Chart. Source: Cointelegraph/TradingView
These accompanied two consecutive days of lower-than-expected US inflation data, with both the Consumer Price Index (CPI) and Producer Price Index (PPI) falling in June.
While cryptocurrencies and stocks initially gained, technology stocks came under pressure on Thursday as… watched closely Micron Technologies fell 15%.
“Mikron is currently down more than -30% from its record high on June 22,” commented trading source The Kobeissi Letter in his letter answer to X.
Micron Technologies 1-day chart. Source: Cointelegraph/TradingView
Kobeissi also saw profit-taking by retail investors in technology stocks, with sales from Tesla and Apple reaching $200 million in the past two weeks.
“Meanwhile, total retail trading in single-company shares rose to a record $370 billion, up from $220 billion in early 2026,” he continued.
“Retail Investors Lock in Profits After Historic Tech Rally.”
Share sales data from retail investors. Source: Kobeissi Letter/X
Before, – Cointelegraph reported on Bitcoin speculators profiting from recent local highs.
“Rejection” becomes the fresh BTC price keyword
Returning to the BTC price action itself, the mood among market participants remained conservative that day.
Related: Bitcoin buyers for 107 thousand dollars provide ‘early signals’ of 2026 bear market bottom: Glassnode
Commenter Exitpump identified the anchored average volume-weighted price (AVWAP), measured from Bitcoin’s rise to $82,000 in early May, as the level that would end the current rebound.
“Price will eventually retest AVWAP from the 82k high, which will lead to a strong local downtrend. In my opinion, such a retest should limit the upside and result in a stronger rejection.” he said X followers
BTC/USD four-hour chart. Source: Exitpump/X
Trader and analyst Rekt Capital argued that BTC/USD is “showing initial signs of rejection” from its 50-month exponential moving average (EMA) at $65,900.
Rekt Capital maintained the concept of current price behavior by copying the bear market of 2022, already warning that another macro low will only take place at the end of the year.
