Bitcoin price dips on US stocks sell-off as Micron losses pass 30%
Bitcoin slipped alongside US stocks as tech-sector selling outweighed support from cooler inflation data. BTC/USD hovered near $64,500, about 1.5% below the prior day’s three-week high, after earlier gains tied to weaker-than-expected CPI and PPI reports. Risk appetite faded when major tech names came under pressure, with Micron dropping sharply and signs of retail profit-taking in stocks like Tesla and Apple. In crypto, traders stayed cautious. Some market participants said Bitcoin may face resistance on a retest of the AVWAP from the early-May $82,000 peak, while another analyst said BTC was showing early rejection at its 50-month EMA near $65,900. The broader tone remains defensive, with some comparing current behavior to the 2022 bear market.
