The Magnificent Seven had their worst day since April 2025 after Alphabet and Tesla spooked investors on AI spending. Bitcoin fell less than 1%, and dogecoin led the majors lower.
- Bitcoin hovered around $65,400 in Friday’s Asian trading, barely budging despite a sharp sell-off in major U.S. technology stocks.
- The Magnificent Seven megacap tech stocks lost about $797 billion in market value on Thursday, dragging the S&P 500 and Nasdaq 100 lower and leaving the group 11 percent below its late-May peak.
- Concerns that Big Tech is spending on artificial-intelligence infrastructure faster than profits can justify have recently tied bitcoin closely to the AI trade, but its resilience during this equity rout hints at a possible, though unproven, decoupling.
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Crypto Flows, Share and the Selective Rotation
Markets repositioned since June, but Binance held share (~55% user funds, ~24% spot) and drew net inflows in early July while the tracked market saw outflows.
Why it matters :
Markets repositioned since June, but Binance held share (~55% user funds, ~24% spot) and drew net inflows in early July while the tracked market saw outflows.
Shiba Inu surges 36% as South Korean traders fuel mystery rally
Crypto exchange BitMart to shut down after nine years, BMX token crashes 58%
Saylor and team overhaul Strategy's bitcoin metrics as bear market persists
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