Bitcoin Steady Near $65,000 as Mag 7 Stocks Suffer Worst Day Since 2025

Bitcoin held its ground near the $65,000 level on Friday, even as a brutal sell-off swept through the US stock market's most valuable technology companies. The cryptocurrency's resilience stood in stark contrast to the rout that hammered the so-called 'Magnificent 7' stocks — Apple, Microsoft, Alphabet, Amazon, Nvidia, Tesla and Meta.

The group posted their worst single-day performance since 2025, according to data compiled by CoinDesk. The exact percentage decline was not immediately available, but market participants described the move as sharp and broad-based.

Bitcoin shrugs off stock market jitters

Bitcoin changed hands at around $65,200 in late Asian trading, little changed over the past 24 hours. The world's largest digital asset has been range-bound between $63,000 and $67,000 for most of the week, showing little reaction to the equity rout.

Traders said the divergence between crypto and stocks is notable. In previous cycles, Bitcoin often moved in tandem with high-growth tech shares. 'This time, Bitcoin is behaving like a safe-haven asset rather than a risk-on bet,' a Singapore-based trader told CoinDesk.

Ethereum holds steady alongside Bitcoin

Ether, the second-largest cryptocurrency, also remained stable. It traded near $3,450, holding within a tight range. The lack of volatility in Ether was seen as further evidence that crypto markets are not directly mirroring the moves in traditional equities.

Analysts pointed out that the 'Mag 7' sell-off appeared driven by sector-specific concerns, including regulatory headwinds and profit-taking after a strong run. Crypto markets, by contrast, have been buoyed by growing institutional adoption and expectations of clearer regulatory frameworks in the US and Europe.

What is driving the divergence?

Market participants offered several explanations for Bitcoin's calm. First, the crypto market has been drawing fresh capital from investors looking for alternatives to overvalued tech stocks. Second, the upcoming Bitcoin halving event, expected in 2028, continues to create a supply-side narrative that supports prices.

'The Mag 7 had an incredible run, but valuations became stretched. Some of that money is now rotating into Bitcoin and other large-cap cryptocurrencies,' a Hong Kong-based fund manager said. 'This is not a one-day phenomenon; we have seen it building over the past few weeks.'

However, not all observers were convinced. Some cautioned that Bitcoin remains a volatile asset and could still face selling pressure if the stock market correction deepens. 'Correlations can re-emerge quickly,' one strategist warned.

The road ahead

For now, the focus remains on whether Bitcoin can break above the $67,000 resistance level. A clear move higher could attract more buyers, while a drop below $63,000 might trigger a short-term pullback. The 'Mag 7' stocks are expected to remain under scrutiny as earnings season approaches.

Investors will watch Monday's trading session closely. If tech stocks stabilise, the current divergence may narrow. If they slide further, Bitcoin's resilience will face its next real test.