Crypto
Bitcoin, Ethereum Defy AI Rout with Remarkable Resilience
Bitcoin and Ethereum have shown 'remarkable resilience' during the recent AI rout, according to Doctor Profit. In an X post on July 30, he reflected on his July 18 positioning and said many questioned why he was buying crypto despite expecting broader weakness across financial markets.
His answer is that the correction has been concentrated in AI and technology stocks rather than digital assets. 'BTC has remained stable within its range and ETH has shown remarkable resilience,' he wrote.
The limited impact of the S&P 500's weakness on Bitcoin supports his thesis that crypto may decouple from technology stocks if the selloff remains concentrated in AI, Doctor Profit believes.