Bitcoin held close to $65,000 in early morning Asia on Friday, barely moving as nearly $800 billion evaporated from top U.S. tech stocks — a rare stretch of independence for an asset that has tracked AI trading all month.
The largest cryptocurrency is trading at around $65,400, down less than 1% on the day and up 3% on the week. Ether fell 3% to $1,879, and the rest of the majors leaned into the 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 fell to $58, down 4% over seven sessions. The moves were losses, but modest compared to what happened in stocks.
The Magnificent Seven, a common term for the megacap group that has driven U.S. stocks for three years, fell 4.8% on Thursday, losing $797 billion in market value in their worst day since the April 2025 tariff sale, according to Bloomberg.
The drop dragged the S&P 500 down 1.2% and the Nasdaq 100 down 1.9%, and it left the group 11% below its record at the end of May, wiping out $2 trillion.
