Crypto
Bitcoin Stands Firm as Tech Stocks Plummet by Nearly $800 Billion
Bitcoin has continued to trade near $65,000 in Asia morning hours on Friday, despite the decline of nearly $800 billion from U.S. technology stocks.
The largest cryptocurrency's price movement was minimal, down less than 1% on the day and up 3% on the week.
Ethereum slipped 3% to $1,879, while Dogecoin dropped 5% to $0.069, with XRP falling 2% to $1.11 and Solana losing 3% to $76.
The decline in tech stocks was led by the 'Magnificent Seven', a group of megacap companies that has driven U.S. stocks for three years.
Their market value shed $797 billion on Thursday, with Alphabet raising its capital expenditure forecast to as much as $205 billion this year and Tesla CEO Elon Musk calling 2026 'a massive capex year'.