Bitcoin Hits Two-Week Low as US Stocks Miss Asia Rebound

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.

Bitcoin and U.S. equities have often been driven by the same shifts in risk appetite and capital flows, but their recent performance has diverged sharply. U.S. stocks continue to challenge record highs, while Bitcoin has failed to hold above $83,000. The decoupling points to weaker buying in crypto markets and has prompted investors to reassess whether digital assets can rally alongside traditional risk assets.

Bitcoin continued to fall after failing to break above $83,000 in early June, reaching its lowest level since early April. Analysts said the potential bottom could be as low as $72,000. Meanwhile, the U.S. Depository Trust & Clearing Corporation said it would connect a tokenized-securities platform to its network, sending Stellar (XLM) surging 25% against the broader market trend.

Bitcoin held the $60,000 level in the third quarter of 2024, leading markets to regard it as important support. Technology shares across Asian markets have continued to fall recently, pressuring risk assets and increasing cryptocurrency volatility. A loss of this key support could weaken investor confidence and affect subsequent capital allocation.

The latest daily candle showed Bitcoin closing below $60,000 for the first time since September 2024, and it continued to hover beneath that level afterward. Markets are bracing for a pivotal week, with analysts saying the former $60,000 support zone is gradually turning into resistance as technology stocks enter a “deep bear market.”

Bitcoin came under renewed selling pressure after its 2024 cycle highs as crypto assets cooled alongside other high-risk markets. The $58,000 level was not only a more-than-two-year low but also a key threshold for assessing whether leveraged positions could face cascading liquidations. CoinGlass data showed short positions building rapidly, suggesting that although the downturn had not reversed, the risk of a sharp move in the opposite direction was rising.

During U.S. trading on Thursday, July 16, 2026, Bitcoin tumbled as much as 5% to $58,000, its lowest level since 2024, dragging down the broader crypto market. CoinGlass derivatives data and exchange order books showed that short positioning had become crowded. A rapid rebound could force short covering and amplify a short squeeze, though the downward trend remained intact.

Bitcoin came under pressure in early 2026 from liquidations of highly leveraged positions, net outflows from U.S. spot Bitcoin ETFs and selling by miners, with losses deepening in February. Crypto assets and riskier investments such as U.S. stocks have declined in tandem, pushing market sentiment into extreme fear. Analysts also view BTC as having entered a technical bear market.

Bitcoin fell below $63,000 in February 2026 and briefly traded near $62,500, marking its lowest level of the year, while a weekly rebound quickly faded. Spot cumulative volume delta showed intensifying selling pressure. Market analysts identified $60,000 as key support; a break below that level could send the cryptocurrency into the $56,000–$60,000 range in the short term.

Bitcoin often moves in tandem with risk assets such as technology stocks. When chip shares sell off and investors turn more cautious in Asian equity markets, cryptocurrencies can also face deleveraging and risk-off selling. The latest decline reflects waning investor risk appetite, making Bitcoin's ability to hold the $62,000 level an important gauge of near-term market confidence.

During Asian trading on Tuesday, a selloff in chip stocks deepened for a second consecutive day, pushing Bitcoin below $62,000 to an 11-day low, its weakest level in nearly two weeks. Market analysts warned that Bitcoin could retest $54,000 if Asian technology stocks continue to fall and trigger further capital outflows. That would be about $8,000 below the $62,000 threshold, a decline of roughly 13%.

Bitcoin and AI chips are both highly volatile risk assets, and shifts in capital allocation often link the two markets. Strategy, formerly MicroStrategy, has long bet its balance sheet on Bitcoin. The company and its co-founder Michael Saylor have become key gauges of institutional crypto exposure and financing risk.

Bitcoin fell as low as $61,400 on June 4, 2026, losing about 7% in 24 hours and 13% over the week. Saylor attributed the decline to capital rotating into AI. Broadcom shares plunged about 15% the same day after the company maintained, but did not raise, its forecast for more than $100 billion in fiscal 2027 AI chip revenue, dragging other chip stocks lower.

The 11 U.S.-listed spot Bitcoin ETFs have become an important gateway for institutional capital entering the crypto market, and their flows are also viewed as an indicator of price support. ETF redemptions, aggressive selling in spot and futures markets, and demand for options hedges are now rising in tandem, suggesting the correction may be more than a pullback after a rally.

Bitcoin fell about 6% from $82,000 to $76,800 and dropped below $77,000 again on May 22. SoSoValue data showed that the 11 ETFs had recorded more than $1.5 billion in outflows since May 7, including $648 million on May 18 alone. Glassnode said spot cumulative volume delta, or CVD, had fallen to negative $126.2 million, with key support at $74,000–$76,000.

Bitcoin's loss of long-term support suggests crypto assets could face a deeper correction. A “fair value gap” is a low-liquidity zone created after a sharp price move that markets often retrace to fill. Cointelegraph cited Rekt Capital as saying the 200-week EMA had flipped from support into potential resistance, affecting confidence across risk assets.

On February 24, 2026, TradingView data showed Bitcoin approaching $60,000 after falling nearly 3% on the day, while gold dropped 2% to $5,140 an ounce. The Kobeissi Letter said U.S. stocks had shed $800 billion in market value. Crypto Scient forecast on February 12 that BTC could fill the gap at $45,000.

Bitcoin has long been viewed by some investors as inflation-resistant “digital gold,” but its recent performance has more closely resembled that of a volatile risk asset. Its price has moved closely in line with software-stock benchmarks such as the iShares Expanded Tech-Software Sector ETF (IGV), suggesting that selling pressure in U.S. technology shares and private equity markets is spilling into cryptocurrencies.

During U.S. trading on Monday, July 13, Bitcoin briefly rebounded above $65,000, but the rally failed to hold. It retreated to about $65,400 as the broader stock market and software shares declined. Polymarket showed the probability of Bitcoin falling below $55,000 had risen to 72%, reflecting weakening confidence among holders and increased downside risk.