Bitcoin remained resilient near $65,000 on Thursday even as a punishing selloff wiped roughly $800 billion from the market value of America's largest technology companies, offering a rare moment where digital assets shrugged off turbulence in equities markets.
## Tech Stocks Take a Beating The so-called Magnificent Seven — the cluster of megacap technology firms that has driven much of the stock market's gains — suffered its steepest single-day decline since April 2025. The rout was triggered by disappointing signals from Alphabet and Tesla, both of which unsettled investors with concerns tied to spiraling artificial intelligence spending.
The scale of the damage underscored how sensitive the market has become to the massive capital expenditures that AI ambitions demand. As earnings reports rattled confidence, the combined losses across the group reached an eye-watering figure that reverberated throughout Wall Street.
While tech giants bled hundreds of billions, bitcoin barely flinched — a divergence that has caught the attention of traders.
## Crypto Stays Steady Rather than being dragged down with equities, bitcoin slipped less than 1%, holding firm around the $65,000 mark. The muted reaction stood in stark contrast to the sharp drops seen across the technology sector and hinted at a decoupling that crypto bulls have long anticipated.
Among the larger cryptocurrencies, however, the day was not uniformly calm. Dogecoin led the major tokens lower, reflecting the pockets of weakness that persisted even as the broader crypto market avoided the worst of the equity carnage.
Key movements on the day included:
- Bitcoin down less than 1%, trading near $65,000
- Dogecoin posting the largest losses among major coins
- The Magnificent Seven shedding approximately $800 billion in value
The episode adds fresh fuel to a debate that has divided investors for years: whether bitcoin functions as a risk asset tethered to tech sentiment or as an independent store of value. Thursday's action, at least, tilted toward the latter interpretation.