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Morning Edition · Friday, July 24, 2026Published at 1:11 AM EDT · New York

Bitcoin Holds Near 65,000 Dollars as an 800-Billion-Dollar Technology Selloff Spares Crypto

The largest United States technology shares fell sharply after Alphabet and Tesla unsettled investors on artificial-intelligence spending, yet bitcoin fell less than 1 percent.

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Bitcoin Holds Near 65,000 Dollars as an 800-Billion-Dollar Technology Selloff Spares Crypto

Bitcoin held near 65,000 dollars and fell less than 1 percent even as a selloff estimated at 800 billion dollars hit the largest United States technology companies, CoinDesk reported. Those shares dropped sharply after results and commentary from Alphabet and Tesla raised concern about the scale of spending on artificial intelligence.

Among major digital assets, dogecoin led the declines, according to CoinDesk, but the moves were modest against the size of the equity retreat. The relative calm in crypto contrasts with a session in which technology stocks and, separately, government bonds both came under pressure from the widening conflict in the Gulf.

Bitcoin is often described as a high-risk asset that should fall hardest when investors reduce risk. Its steadiness on a day of heavy equity selling is a notable divergence rather than a confirmation of that usual pattern.

Part of a tracked trend

Hard Assets Test Their Independence

As energy shocks and technology-valuation doubts pressure equities, bitcoin and other hard-money assets are repeatedly tested on whether they trade as risk assets or as independent stores of value, and each divergence builds or breaks that case.

What this means

Bitcoin's failure to fall with technology stocks matters because it tests the claim that crypto simply trades as a leveraged bet on the same forces that drive the Nasdaq. If the divergence holds through more sessions, holders can argue the asset is behaving as an independent store of value during a supply-driven inflation scare, which is the sound-money case for it. If instead it is a one-day lag before catching down to equities, the correlation story stands. The two outcomes are separated by whether crypto weakens when the next phase of the technology selloff arrives.

What to watch

  • Whether bitcoin stays firm or catches down to technology shares in the sessions ahead, which decides whether the divergence is real or a delay.
  • Whether the artificial-intelligence spending doubts spread from Alphabet and Tesla to the rest of the large technology group, because a broader repricing there would test crypto's independence more severely.

Observations to monitor, not financial advice.

1 source

Source: CoinDesk

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