A selloff wave in U.S. stocks dragged Bitcoin down, with Micron falling more than 30% from its historical high.

robot
Abstract generation in progress

BlockBeats report, July 17: Bitcoin fell with the US stocks on Thursday, trading around $64,500, down about 1.5% from the three-week high it hit the previous day. Earlier, the US June CPI and PPI were both below expectations, driving a brief rise in crypto assets and US stocks, but tech stocks were later sold off.

Micron Technology has already retraced more than 30% from its historical peak on June 22. The Kobeissi Letter said retail investors are taking profits from the tech-stock rally; over the past two weeks, their net selling in Tesla and Apple each reached $200 million, while the total trading value of retail individual stocks rose to a record $370 billion.

On Bitcoin’s price trend, market participants remain cautious. Exitpump said Bitcoin is testing the anchored volume-weighted average price calculated from the $82,000 peak in early May; that level may cap this round of rebounds and trigger stronger resistance.

Rekt Capital said Bitcoin showed signs of initial resistance around the 50-month exponential moving average near $65,900, and it continues to believe the current trend could replicate the 2022 bear market, with the next macro bottom possibly not appearing until later this year.

BTC-1.41%
MU-5.45%
TSLA-0.79%
AAPL1.76%
View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Repost
  • Share
Comment
Add a comment
Add a comment
No comments
  • Pinned