The crypto market is currently experiencing a significant upswing, with cryptocurrencies collectively gaining $1.3 trillion in market capitalization over the past week. This surge in enthusiasm for digital assets coincides with the imminent approval of a spot Bitcoin Exchange-Traded Fund (ETF) in the United States, providing a major boost to the entire crypto ecosystem.
As a striking counterpoint, the tech stock market has been grappling with a substantial decline. Nearly $200 billion was wiped from the market capitalization of the so-called “magnificent seven” tech stocks, a group that includes heavyweights such as Meta, Apple, and Alphabet. These tech giants collectively contribute a quarter of the value of the S&P 500 index.
BREAKING: Google stock, $GOOGL, is now down by 10% posting its worst day since March 2020.
Nearly $200 billion in market cap has been erased today alone.
The 7 largest tech stocks in the S&P 500 have lost more than a combined $500 billion today.
Th
We współpracy z: https://bitcoinist.com/crypto-rise-triggers-billions-loss-in-tech-shares/
