Tech stocks plunge—does $BTC rise against the trend?
This week, US technology stocks suffered a sharp setback, with the market value of the “Seven Tech Giants” evaporating by nearly $79.7 billion, while $BTC rose by about 1.82% during the same period. The decline in tech stocks was mainly driven by investors re-evaluating AI narratives and high valuations, leading them to adjust their risk exposure.
Tesla and Alphabet both fell by more than 16% and 8.4%, respectively, reflecting shaken investor confidence in large technology companies. However, during the same period, the price of $BTC remained steady around $65,000 and did not fully follow the downward trend of tech stocks. In particular, during Thursday’s selloff, the drop in $BTC was still contained within a relatively smaller range.
Does this suggest that the cryptocurrency market may become further decoupled from traditional tech stocks?
#加密货币 #Macroeconomics
This week, US technology stocks suffered a sharp setback, with the market value of the “Seven Tech Giants” evaporating by nearly $79.7 billion, while $BTC rose by about 1.82% during the same period. The decline in tech stocks was mainly driven by investors re-evaluating AI narratives and high valuations, leading them to adjust their risk exposure.
Tesla and Alphabet both fell by more than 16% and 8.4%, respectively, reflecting shaken investor confidence in large technology companies. However, during the same period, the price of $BTC remained steady around $65,000 and did not fully follow the downward trend of tech stocks. In particular, during Thursday’s selloff, the drop in $BTC was still contained within a relatively smaller range.
Does this suggest that the cryptocurrency market may become further decoupled from traditional tech stocks?
#加密货币 #Macroeconomics