Bitcoin holds near $65,000 as $800 billion AI selloff leaves crypto largely untouched
Bitcoin prices remained stable near $65,000 despite a massive $800 billion selloff in major tech stocks driven by concerns over AI capital expenditure. While crypto has historically tracked with AI-related tech stocks, this session suggests a potential decoupling as investors re-evaluate the returns on AI infrastructure spending.
Why it matters
The potential decoupling of Bitcoin from AI-linked equities could signal a shift in how digital assets are perceived by institutional investors during periods of market volatility.
The largest cryptocurrency traded at about $65,400, down less than 1% on the day and up 3% on the week. Ether slipped 3% to $1,879, and the rest of the majors leaned red. Dogecoin was the worst of them, down 5% on the day to $0.069 and 4% on the week. XRP fell 2% to $1.11, Solana lost 3% to $76, and Hyperliquid's HYPE dropped to $58, down 4% over seven sessions. The moves were losses, but modest ones against what was happening in equities.
The Magnificent Seven, a colloquial term for the megacap group that has driven U.S. stocks for three years, fell 4.8% on Thursday and shed $797 billion in market value in their worst day since the tariff selloff of April 2025, according to Bloomberg.
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