Bitcoin experienced a 1.5% decline from local highs as US stocks reversed course, according to CoinTelegraph. This downturn in the crypto market followed a broader sell-off in US equities, which was triggered by significant losses at Micron, whose stock fell over 30%.
CoinTelegraph reported that the shift in market sentiment came as investors moved away from previously bullish inflation cues in the US and engaged in retail profit-taking. The sell-off in tech stocks, exemplified by Micron's steep losses, weighed heavily on risk assets including Bitcoin.
For Japanese investors, this development highlights the interconnectedness of global equities and cryptocurrency markets, emphasizing the importance of monitoring US tech sector movements alongside crypto trends.