Bitcoin Retreats to $64,500 as Selling Hits U.S. Tech Stocks
Bitcoin, the cryptocurrency market’s bellwether, has shown a strong positive correlation with U.S. technology stocks and is widely viewed as a gauge of global risk appetite. The broader crypto market has recently come under pressure as retail investors took profits at elevated prices and valuation-driven selling hit U.S. technology shares. The pullback reflects concerns about richly valued tech stocks and signals that investors have grown more cautious about allocations to risk assets amid macroeconomic uncertainty.
As selling swept through U.S. equities, Bitcoin retreated about 1.5% from a three-week high and traded around $64,500. Shares of memory-chip giant Micron Technology have plunged more than 30% from their record high in June 2026, directly weighing on technology stocks and, in turn, Bitcoin. The sell-off, led by the major chip stock, was still constraining the near-term performance of global risk assets in mid-July 2026.
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The history behind this eventBitcoin Battles to Hold $63,000 as U.S. Chip Sell-Off Drives Pullback
Bitcoin quickly retreated after hitting a two-week high, shifting the market’s focus to whether support at $63,000 would hold. Crypto assets and U.S. technology stocks are both influenced by risk appetite, interest-rate expectations and capital flows. The chip-stock sell-off therefore deepened investor concerns that highly volatile assets could correct in tandem.
In the latest trading session, Bitcoin bulls and bears battled near $63,000, with the rally failing to extend. Chipmakers led U.S. stocks lower over the same period, while Micron Technology shares at one point faced a decline of nearly 10%. The moves reflected concentrated selling pressure across the semiconductor sector and weighed on broader market sentiment.
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