$BTC is holding near 80K while China's AI stock bubble deflates. That's worth noticing 🇨🇳
The numbers:
• China's tech-heavy STAR50 index is down about 40% from its July peak, wiping out roughly 480 billion dollars
• The CSI 300 hit a 14-month low on Tuesday, about 20% below its June high
• At the peak, AI-linked stocks made up 42% of China's market value, according to Goldman Sachs
• Regulators issued guidelines on October 9 aimed at cooling bubbles in AI and other "new productive forces"
Meanwhile, Bitcoin has barely moved and is still trading around 80,000 to 81,000.
Why it matters: in past selloffs, crypto often fell alongside risky tech stocks. This time it's holding up better, at least so far. The US side of the AI trade still looks firmer, with Nvidia trading near 218 through its tokenized stock $NVDAB
Is crypto starting to decouple from tech stocks, or is it just a matter of time? 👇
#AI #Bitcoin #CryptoNews
The numbers:
• China's tech-heavy STAR50 index is down about 40% from its July peak, wiping out roughly 480 billion dollars
• The CSI 300 hit a 14-month low on Tuesday, about 20% below its June high
• At the peak, AI-linked stocks made up 42% of China's market value, according to Goldman Sachs
• Regulators issued guidelines on October 9 aimed at cooling bubbles in AI and other "new productive forces"
Meanwhile, Bitcoin has barely moved and is still trading around 80,000 to 81,000.
Why it matters: in past selloffs, crypto often fell alongside risky tech stocks. This time it's holding up better, at least so far. The US side of the AI trade still looks firmer, with Nvidia trading near 218 through its tokenized stock $NVDAB
Is crypto starting to decouple from tech stocks, or is it just a matter of time? 👇
#AI #Bitcoin #CryptoNews