Bitcoin held near $65,000 in Asian morning hours on Friday, barely budging as nearly $800 billion evaporated from the biggest U.S. tech stocks, a rare stretch of independence for an asset that has tracked AI trading all month.
The largest cryptocurrency was 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 major stocks moved into the red. Dogecoin was the worst of them, falling 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% in seven sessions. The moves were losses, but modest compared to what was happening in stocks.
The Magnificent Seven, a colloquial term for the mega-cap group that has boosted US stocks for three years, fell 4.8% on Thursday and lost $797 billion in market value in their worst day since the April 2025 tariff sell-off, according to Bloomberg.
The drop dragged the S&P 500 down 1.2% and the Nasdaq 100 down 1.9%, and left the group 11% below its late May record, erasing $2 trillion.
