Bitcoin Stays Strong While Tech Stocks Hit a Rough Patch

Tech stocks are feeling the heat today as US stock futures trade lower. The Nasdaq 100 took a hit of 1.2 percent while the S&P 500 and Dow also saw declines. This downward pressure comes as 10 year Treasury yields climbed to 4.74 percent, and 30 year yields reached their highest levels since 2007. Growth stocks like Nvidia and Micron felt the brunt of this shift, as investors react to higher borrowing costs and rising oil prices.

Surprisingly, the cryptocurrency market is showing a different side. While equities struggle, Bitcoin continues to hold ground above $64,000. It is currently up about one percent over the last 24 hours, even with the broader market turbulence. This resilience is a notable change of pace, as crypto assets often suffer more than traditional stocks when macro pressures intensify.

The total crypto market cap sits at approximately $2.28 trillion, reflecting a slight daily gain. Traders are now watching closely to see if Bitcoin can maintain this decoupling from traditional tech stocks. If yields continue to rise, the ability of crypto to stay steady will remain a key story for the week ahead.