Bitcoin Stands Firm Amid $800 Billion AI Stock Meltdown

Bitcoin has shown remarkable resilience as it holds steady in the mid-$60,000 range despite a significant downturn in major AI stocks. According to Scott Melker, owner and content creator at Traders Union, $800 billion has been wiped from these stocks.

The 'Magnificent Seven' group of AI stocks is experiencing its worst days since April 2025. This downturn has not significantly affected Bitcoin's price, with Melker noting that the broader markets are experiencing volatility.

Earlier this year, JPMorgan raised its S&P 500 year-end target to 7,800, citing strong AI-driven earnings and lower geopolitical risks. This prediction appeared against a backdrop of sustained investor interest in both equities and digital assets.