Bitcoin ETF

Bitcoin

Bitcoin (BTC) circled $63,000 after Tuesday’s Wall Street open as chip companies led a dip in US stocks.
Key points:
<ul>
 <li>Bitcoin attempts to hold $63,000 after seeing its highest levels in two weeks.</li>
 <li>US stock markets see a correction on the day SpaceX joins the Nasdaq-100.</li>
 <li>Bollinger Bands creator John Bollinger continues to eye a long-term BTC price reversal.</li>
</ul>
<h2 id="btc-price-comes-off-two-week-highs-as-us-stocks-fall">BTC price comes off two-week highs as US stocks fall</h2>
Data from TradingView showed BTC price action cooling after a trip to $64,660 — its highest point since June 22.<img alt="" height="818" src="https://s3-images.ctmedia.io/media/content/btcusd2026-07-0718-04-21.png" width="1134">
BTC/USD one-day chart. Source: Cointelegraph/<a href="https://www.tradingview.com/symbols/BTCUSD/" rel="noopener noreferrer nofollow">TradingView</a>
BTC/USD surfed a comedown in US equities, with the S&amp;P 500 and Nasdaq 100 down 0.6% and 2.1%, respectively, at the time of writing. Chip stocks led the sell-off, with Micron Technologies, whose earnings were <a href="https://cointelegraph.com/markets/bitcoin-teases-62k-breakdown-as-analysis-sees-micron-earnings-volatility-next" rel="noopener noreferrer nofollow">highly anticipated</a> last month, down over 9%.<img alt="" height="818" src="https://s3-images.ctmedia.io/media/content/mu2026-07-0717-58-38.png" width="1134">
Micron Technologies stock one-hour chart. Source: Cointelegraph/TradingView
 At the same time, Tuesday was due to see SpaceX added to the Nasdaq 100 <a href="https://cointelegraph.com/markets/bitcoin-slump-worsens-amid-spacex-rout-can-btc-price-hold-60k-any-longer" rel="noopener noreferrer nofollow">after its own stock turbulence</a> in late June.
“This marks the fastest inclusion into the Nasdaq 100 in the index’s history,” trading resource The Kobeissi Letter noted in its <a href="https://x.com/KobeissiLetter/status/2074466777287778698" rel="noopener noreferrer nofollow">latest commentary</a> on X.<img alt="" height="595" src="https://s3-images.ctmedia.io/media/content/screenshot-2026-07-07-at-180320.png" width="938">
US spot Bitcoin ETF net flows (screenshot). Source: Farside Investors
 Fresh from a <a href="https://farside.co.uk/btc/" rel="noopener noreferrer nofollow">second day of net inflows</a> to the US spot Bitcoin exchange-traded funds (ETFs), BTC/USD managed to avoid a major comedown.
“Correlation to the Nasdaq just flipped to +0.72 from -0.87 in the matter of days last week,” trader Daan Crypto Trades <a href="https://x.com/DaanCrypto/status/2074457917793734709" rel="noopener noreferrer nofollow">reported</a> on X.&nbsp;
<blockquote>
 “That's the difference between trading like a complete hedge/inverse and trading like a high beta tech stock. Right now we're back to the middle on the 4H timeframe.”
</blockquote><img alt="" height="641" src="https://s3-images.ctmedia.io/media/content/hmn0etsxiaeslav.jpeg" width="1199">
BTC/USDT futures (Binance) four-hour chart. Source: Daan Crypto Trades/X
 Commentator Exitpump was conservative on low time frames, expecting a “rounding topping structure” and further downside next.
<blockquote class="twitter-tweet"><a href="https://x.com/exitpumpBTC/status/2074475743178866916&nbsp;" rel="noopener noreferrer nofollow">https://x.com/exitpumpBTC/status/2074475743178866916&nbsp;</a>
</blockquote>
“The next correction on S&amp;P should mark the true $BTC bottom according to history,” trader Killa <a href="https://x.com/KillaXBT/status/2074499256199561665" rel="noopener noreferrer nofollow">suggested</a>.&nbsp;
<blockquote>
 “Lets see if we repeat, 2015, 2018 &amp; 2022.”
</blockquote><img alt="" height="824" src="https://s3-images.ctmedia.io/media/content/hmoz3t7x0aasnkp.png" width="2086">
S&amp;P 500 chart data. Source: Killa/X
<h2 id="br-bollinger-we-are-at-a-critical-point"> Bollinger: "We are at a critical point"</h2>
In <a href="https://x.com/bbands/status/2074169718001565846" rel="noopener noreferrer nofollow">recent X discussions</a>, meanwhile, John Bollinger, creator of the Bollinger Bands volatility indicator, had some more positive news for Bitcoin bulls.
Related: <a href="https://cointelegraph.com/markets/bitcoin-can-fall-below-58k-if-one-of-its-cleanest-metrics-copies-history-analysis" rel="noopener noreferrer nofollow">Bitcoin can fall below $58K if one of its 'cleanest' metrics copies history: Analysis</a>
As <a href="https://cointelegraph.com/markets/bollinger-bands-creator-eyes-bitcoin-bear-market-end-w-shaped-reversal" rel="noopener noreferrer nofollow">Cointelegraph reported</a>, Bollinger was eyeing a “W”-shaped reversal pattern currently in the process of confirmation on daily time frames.
Last week, he queried whether its latest iteration could end up canceling the BTC price downtrend altogether.
“We are at a critical point,” he added on Monday.&nbsp;
<blockquote>
 “In a bear market bullish setups break and in a bull market bearish setups break. So if this W pattern is successful I would see it as a confirmation of a change in trend.”
</blockquote><img alt="" height="892" src="https://s3-images.ctmedia.io/media/content/oe8xmqrn-1.png" width="942">
BTC/USD one-day chart with Bollinger Bands. Source: John Bollinger/X

Bitcoin bulls battle for $63K as Micron stock eyes 10% drop in US chip sell-off

Table of Contents

Cointelegraph

Other articles published on Jul 7, 2026

Join our free newsletter for daily crypto updates!