Bitcoin holds near $65,000 as $800 billion AI selloff leaves crypto largely untouched
CoinDesk 2026-07-24 04:43:19
Context: The cryptocurrency market, particularly Bitcoin, remained relatively stable amidst a significant selloff in the AI sector, which saw the Magnificent Seven group of stocks experience their worst day since April 2025. This downturn was triggered by concerns over AI spending, as expressed by Alphabet and Tesla. As a result, Bitcoin's value held steady near $65,000.
Key Facts
- The Magnificent Seven group of stocks had their worst day since April 2025 following disappointing AI spending outlooks from Alphabet and Tesla, leading to a substantial selloff that wiped out approximately $800 billion in value.
- Bitcoin's price fell by less than 1% during this period, demonstrating a level of resilience and stability compared to the AI sector.
- Dogecoin was among the major cryptocurrencies that experienced a decline, leading the pack lower, although the overall crypto market was largely untouched by the AI selloff.