Crypto Markets Hold Firm as Tech Stocks Crater

Bitcoin is consolidating around $65,000 despite the Nasdaq posting its worst day since December 2022.

Crypto markets dipped slightly on Thursday, with total market capitalization dropping 1% to $2.49 trillion.

Bitcoin and Ether are trading flat at $64,800 and $3,465, respectively, while Solana is up 1% to $161, according to CoinGecko.

Among the top 100 digital assets by market capitalization, Solana memecoin Dogwifhat (WIF) leads the pack with a 13% rally in the past 24 hours. Other top gainers include Thorchain (RUNE), Lido (LDO) and Jupiter (JUP), which are up 6% or more.

Shiba Inu (SHIB) is the day’s biggest loser, dropping 10% after a hacker stole over $100 million worth of tokens from the WazirX crypto exchange earlier today.

While crypto markets have generally traded in line with major stock markets, especially the tech-heavy Nasdaq, digital assets have remained notably resilient in the face of yesterday’s tech stock selloff, which wiped out hundreds of billions of dollars from the market capitalization of firms like Nvidia, AMD and Meta.

Crypto sentiment is likely being buoyed by the imminent launch of spot Ether ETFs, which are expected to commence trading on July 23.