Dogecoin

Bitcoin

Change

<p style="text-align: justify"><a href="https://en.coin-turk.com/institutions-bet-big-on-bitcoin-boom-by-2026/" rel="noopener noreferrer nofollow">Bitcoin</a> maintained stability near $65,400 during Friday’s Asian trading, even as U.S. technology companies faced their steepest collective loss in months. Despite a sharp sell-off in the stock market, the largest cryptocurrency moved less than 1% lower, signaling a rare moment of divergence from the equity rout.</p><h2 id="u-s-tech-stocks-see-dramatic-losses">U.S. tech stocks see dramatic losses</h2><p style="text-align: justify">The Magnificent Seven, referring to the group of leading U.S. megacap technology stocks that have driven much of Wall Street’s performance since 2022, lost approximately $797 billion in market value on Thursday. This plunge, reported by Bloomberg, marked their worst single-day loss since April 2025. The S&amp;P 500 fell 1.2%, while the Nasdaq 100 declined by 1.9%. The tech group now sits 11% below its peak from late May, erasing nearly $2 trillion in value.</p><blockquote><p>The Magnificent Seven dropped 4.8% on Thursday, their most severe session since the tariff-driven selloff of April 2025, highlighting the market’s heightened sensitivity to aggressive spending in AI infrastructure.</p></blockquote><h2 id="ai-spending-triggers-market-fears">AI spending triggers market fears</h2><p style="text-align: justify">A major driver behind the tech-sector selloff has been concern over capital expenditures on artificial intelligence. Alphabet, the parent company of Google, raised its annual spending target to as much as $205 billion. Meanwhile, Elon Musk, chief executive of Tesla, described 2026 as “a massive capex year” after the company posted profits well below analysts’ expectations.</p><p style="text-align: justify">Investors have grown uneasy with the rapid pace at which technology companies are investing in AI infrastructure, fearing that profit growth may not keep up with such high outlays. This anxiety had been closely linked to performance in both technology stocks and Bitcoin over the past month: the cryptocurrency has tended to rise alongside chip stocks and fall when those shares weaken, moving as a proxy for the broader AI investment cycle.</p><p style="text-align: justify;background: linear-gradient(135deg,#ffffff 0%,#fffdf9 100%);border:1px solid #f1e4d8;border-left:4px solid #F69434;padding:14px 16px;border-radius:12px;color:#1e293b;font-size:15px;line-height:1.7">Mini dictionary: The Magnificent Seven, a term widely used in financial media, refers to the group of the largest and most influential U.S. technology companies, typically including Apple, Microsoft, Alphabet, Amazon, Nvidia, Tesla, and Meta Platforms (formerly Facebook).</p><h2 id="cryptocurrencies-remain-steady-amid-equity-sell-off">Cryptocurrencies remain steady amid equity sell-off</h2><p style="text-align: justify">While the equities market experienced sharp losses, Bitcoin limited its decline to less than 1% for the day, staying within the $65,000 range, and was up 3% across the week. Ether retreated 3% to $1,879. Other leading cryptocurrencies also recorded losses, but their moves were notably small compared with the tech sector’s decline.</p><p style="text-align: justify"><a href="https://en.coin-turk.com/major-rally-preparation-underway-in-the-prominent-altcoin/" rel="noopener noreferrer nofollow">Dogecoin</a> registered the steepest drop among the major cryptocurrencies, down 5% to $0.069 for the day and 4% over the week. XRP slipped 2% to $1.11, Solana lost 3% to $76, and <a href="https://en.coin-turk.com/trader-holds-80-million-hype-long-with-18-million-unrealized-loss-arkham-reports/" rel="noopener noreferrer nofollow">Hyperliquid</a>‘s HYPE token dropped to $58, falling 4% across seven days. Despite red numbers, the cryptocurrency market’s losses were mild relative to the technology sector.</p><table style="border:1px solid #f1e4d8;padding:8px"><thead><tr><th>Asset</th><th>Daily Change</th><th>Weekly Change</th><th>Current Price</th></tr></thead><tbody><tr><td>Bitcoin</td><td>-1%</td><td>+3%</td><td>$65,400</td></tr><tr><td>Ether</td><td>-3%</td><td>—</td><td>$1,879</td></tr><tr><td>Dogecoin</td><td>-5%</td><td>-4%</td><td>$0.069</td></tr><tr><td>XRP</td><td>-2%</td><td>—</td><td>$1.11</td></tr><tr><td>Solana</td><td>-3%</td><td>—</td><td>$76</td></tr><tr><td>HYPE</td><td>—</td><td>-4%</td><td>$58</td></tr></tbody></table><h2 id="potential-decoupling-from-ai-trade">Potential decoupling from AI trade</h2><p style="text-align: justify">The synchronized movement between cryptocurrency prices and technology equities has been one of the defining market features in recent months. Bitcoin, in particular, often responded to swings in semiconductor and AI-related stocks. Some analysts cautioned that the trend might be changing after Bitcoin showed notable independence during the most recent rout in U.S. tech shares.</p><blockquote><p>Whether this signals a longer-term decoupling between Bitcoin and the AI-driven tech cycle remains uncertain, but the divergence seen in the latest session is an important indicator for market watchers.</p></blockquote><p style="text-align: justify">Bitcoin miners have increasingly diversified into operating AI data centers. Should major technology companies begin to scale back AI spending, the effects would eventually be felt in the cryptocurrency mining sector, though the lag may be longer than during market rallies.</p><h2 id="recent-crypto-market-developments">Recent crypto market developments</h2><p style="text-align: justify">Market composition has shifted since June, with Binance, the world’s largest crypto exchange by trading volume, retaining around 55% of user funds and 24% of spot market activity. The exchange drew net inflows in early July, contrary to outflows seen elsewhere.</p><p style="text-align: justify">Among other recent developments: the Clarity Act, addressing crypto regulation, may miss legislative approval before Congress’ summer break; Robinhood CEO Vlad Tenev’s X account was compromised in a token promotion scheme; and BlackRock, Coinbase, and Strategy formed a group pledging $15 million for Bitcoin’s quantum security efforts.</p><p style="text-align: justify">Crypto markets have paused for breath, with industry observers watching for signs of further divergence from traditional tech stock trajectories as July progresses.</p><p>The post <a href="https://en.coin-turk.com/bitcoin-shows-resilience-as-magnificent-seven-tech-stocks-lose-797-billion/" rel="noopener noreferrer nofollow">Bitcoin shows resilience as Magnificent Seven tech stocks lose $797 billion</a> appeared first on <a href="https://en.coin-turk.com" rel="noopener noreferrer nofollow">COINTURK NEWS</a>.</p>

Bitcoin shows resilience as Magnificent Seven tech stocks lose $797 billion

Table of Contents

COINTURK NEWS

Other articles published on Jul 24, 2026

Disney (DIS) and Kraft Heinz (KHC) Stocks: Theme Park Food Deal Announcement

PhotonPay Releases Emerging Markets Payment Report: Unlocking Africa's B2B Potential Through Mult...

EU Expands Belarus Crypto Ownership Ban to All Service Providers

Japan’s Inflation Steady: National CPI Rises 1.7% in June, Core Matches Forecasts

Solana, XRP, DOGE and Cash Cat face key resistance, show mixed recovery signals

U.S. Treasury Keeps South Korea on Currency Monitoring List Amid Won Pressure

Join our free newsletter for daily crypto updates!