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Crypto Struggles as Technology Stocks Fall

Crypto Struggles as Technology Stocks Fall

Bitcoin (CRYPTO: $BTC) and other digital assets were under pressure to end the week amid a global rout in technology stocks. 

BTC was down about 1% and trading at $64,000 U.S. late on the afternoon of July 17 as investors rotate out of stocks tied to the artificial intelligence (A.I.) trade. Japan’s Nikkei 225 index was down as much as 5% amid heavy selling of A.I. stocks. At one point, the technology-laden Nasdaq Composite (NASDAQ: $NDAQ) index was down more than 550 points. 

The situation is weighing on crypto as other digital assets such as Ethereum (CRYPTO: $ETH) fell as much as 3%. ETH was trading at $1,830 U.S. in late day trading. Bitcoin’s price had broken above $65,000 U.S. earlier in the week….

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