AI Stock Selloff Hits Hard: Nasdaq Down 3.4%, Bitcoin Falls for Fifth Straight Week
Last week was tough for investors. Weakness in AI-related stocks hit both the traditional stock market and crypto.
According to Binance News, the Nasdaq Composite fell 3.4% over the week, driven mainly by a sharp drop in AI chip stocks. The pressure was still visible when US stock futures opened on Sunday evening.
Weekly moves:
BRKB: +0.38%
XLE ETF (energy): +0.88%
JETS ETF: −0.13%
BTC: −2.28%
ETH: −5.84%
MU (Micron): −2.41%
Bitcoin has now closed lower for five weeks in a row. Ethereum fell even more than Bitcoin, and spot Bitcoin ETFs, including Fidelity's FBTC, showed outflows.
Takeaway: Bitcoin is moving closely with tech stocks. When the Nasdaq or AI stocks weaken, crypto often follows. Keep an eye on global stock markets alongside crypto.
For information only, not investment advice. Do your own research before investing.
#ETH #Crypto #StockMarket #Micron #AIChips
Last week was tough for investors. Weakness in AI-related stocks hit both the traditional stock market and crypto.
According to Binance News, the Nasdaq Composite fell 3.4% over the week, driven mainly by a sharp drop in AI chip stocks. The pressure was still visible when US stock futures opened on Sunday evening.
Weekly moves:
BRKB: +0.38%
XLE ETF (energy): +0.88%
JETS ETF: −0.13%
BTC: −2.28%
ETH: −5.84%
MU (Micron): −2.41%
Bitcoin has now closed lower for five weeks in a row. Ethereum fell even more than Bitcoin, and spot Bitcoin ETFs, including Fidelity's FBTC, showed outflows.
Takeaway: Bitcoin is moving closely with tech stocks. When the Nasdaq or AI stocks weaken, crypto often follows. Keep an eye on global stock markets alongside crypto.
For information only, not investment advice. Do your own research before investing.
#ETH #Crypto #StockMarket #Micron #AIChips