Bitcoin Dips 1.5% as Micron Rout Drags Tech Stocks
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- Bitcoin dropped 1.5% from its three-week highs to ~$64,500 on Thursday, paring gains that followed two straight days of lower-than-expected June CPI and PPI data.
- Micron Technologies fell 15% on Thursday, extending losses to over 30% from its June 22 record high, per The Kobeissi Letter.
- Retail investors sold approximately $200 million in Tesla and Apple stock over the past two weeks as total single-stock retail turnover hit a record $370 billion (up from $220 billion at the start of 2026).
- Analyst Rekt Capital said BTC/USD is showing "initial signs of rejection" from the 50-month EMA at $65,900 and warned the current price behavior mirrors the 2022 bear market, with a macro bottom not expected until later this year.
- Commentator Exitpump flagged the anchored volume-weighted average price (AVWAP) from Bitcoin's $82,000 May top as the resistance level expected to cap the rebound and produce a "stronger rejection."
Why it matters: The $200 million retail sell-off in Tesla and Apple and Micron's 30% drawdown from its June 22 high show the post-CPI relief rally losing steam. Bitcoin's rejection at the 50-month EMA ($65,900) now puts the burden on buyers to defend the $61,000–$64,500 range or confirm a bearish continuation.
