Crypto
Home›Crypto›Bitcoin›Bitcoin stays near $65,000 despite $800 billion Magnif…
Bitcoin stays near $65,000 despite $800 billion Magnificent Seven slump
Bitcoin traded around $65,400 in Asian hours, down less than 1%, while the Magnificent Seven lost about $797 billion in market value on Thursday.
Bitcoin held close to $65,000 in Friday’s Asian trading, moving little despite a sharp sell-off in major U.S. technology stocks, according to CoinDesk. The largest cryptocurrency was around $65,400, down less than 1% on the day and up 3% on the week.
CoinDesk said the Magnificent Seven had their worst day since April 2025, with about $797 billion in market value erased on Thursday. The group fell 4.8% that day, leaving it about 11% below its late-May peak, and the decline dragged the S&P 500 down 1.2% and the Nasdaq 100 down 1.9%.
The tech shock centered on concerns about accelerated artificial intelligence spending. CoinDesk noted that Alphabet raised its capital expenditure forecast to as much as $205 billion this year, and Tesla’s chief executive Elon Musk called 2026 “a massive capex year,” after both companies reported results that were below expectations.
Despite bitcoin’s recent linkage to the AI trade, CoinDesk reported it was comparatively resilient during this equity rout. Ether slipped 3% to $1,879, dogecoin fell 5% to $0.069, and XRP dropped 2% to $1.11, while Solana fell 3% to $76.
Latest closeBitcoin $65,435.06 ▲0.6%|Solana $75.87 ▲0.0%|XRP $1.114 ▲0.6%