Bitcoin Shrugs as $800B AI Tantrum Rattles Wall Street 🤖

Bitcoin held near $65,000 in Asian trading on Friday, slipping less than 1% to about $65,400 even as roughly $800 billion in market value evaporated from the largest U.S. technology stocks in a single session. The largest cryptocurrency was up 3% on the week. Ether dropped 3% to $1,879, while the rest of the majors leaned red, with dogecoin leading the losses at down 5% on the day to $0.069 and 4% over seven days. XRP fell 2% to $1.11, Solana lost 3% to $76, and Hyperliquid's HYPE slipped to $58, down 4% on the week.

The cryptocurrency's muted response contrasted sharply with Thursday's rout in U.S. equities. The Magnificent Seven megacap tech stocks fell 4.8%, shedding $797 billion in market value in their worst day since the tariff selloff of April 2025, according to Bloomberg. The decline pulled the S&P 500 down 1.2% and the Nasdaq 100 down 1.9%, leaving the group 11% below its late-May record and erasing $2 trillion in value.

Concerns over the pace of AI infrastructure spending drove the selloff. Alphabet raised its capital expenditure forecast to as much as $205 billion this year, and Tesla CEO Elon Musk described 2026 as "a massive capex year" as the company reported profits well below expectations, both delivered after Wednesday's close. That worry has moved crypto alongside AI-linked equities for weeks, with bitcoin rising and falling roughly in step with chip stocks.

Despite that correlation, bitcoin's resilience during the Thursday equity rout points to a possible, though unproven, decoupling from the AI trade. Market participants are watching whether the largest digital asset can continue to hold steady if the selloff in Big Tech widens or extends into next week.