Bitcoin Dips as US Stocks Extend Sell-Off

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Bitcoin fell 1.5% from local highs amid a reversal in US stocks as markets moved from bullish US inflation cues to retail profit-taking.

Bitcoin (BTC) cooled off with US stocks on Thursday as tech selling tempered gains from low inflation.

Bitcoin follows US stocks as they come off local highs sparked by bullish US inflation data.

Tech sell pressure contributes to slowing momentum as retail investors take profits.

The BTC price rebound is seen rejecting at overhead resistance.

Tech selling puts the brakes on crypto, risk-asset upside

These had accompanied two straight days of lower-than-expected US inflation data, with both the Consumer Price Index (CPI) and Producer Price Index (PPI) dropping in June.

While crypto and equities initially gained, tech stocks came under pressure on Thursday, with the closely-watched Micron Technologies down 15%.

“Micron is now down over -30% since its June 22nd record high

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🚀#B-USDT - 29% profit

🚀#KAT-USDT - 85% profit

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✅✅Net Profit = 114% Profit

👇🏻Signals Summary
➕Total Signals Sent out - 02
✔️Profitable Signals - 02
✖️Total Signals Lost - 00
◼️Trade cancelled without being executed - 00
✅✅Net Profit - 114% ProfitBinance Futures platform shares the same infrastructure as their spot trading exchange, Binance.

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