Analysis: If the "Seven Giants" of the US stock market continue to decline, Bitcoin may face greater downward pressure

ChainCatcher news, according to Cointelegraph, the stock prices of the "Big Seven" in the U.S. have significantly dropped, which may bring greater downward pressure on Bitcoin prices. The "Big Seven" refers to several high-performing tech stocks, including Nvidia and Microsoft. On August 5, during regular trading, these stocks collectively lost over $650 billion in market value.

Cryptocurrency insiders believe that the renewed decline of leading tech stocks could lead to a drop in Bitcoin prices, as there is documented correlation between stock market performance and cryptocurrency value; as major tech stocks decline, investor sentiment typically shifts towards alternative assets, including Bitcoin.