Bitcoin could see more downward pressure if the top tech stocks in the US continue to shed value.
The “Magnificent Seven” stocks have seen a sharp decline, threatening to bring more downward pressure on Bitcoin price.
Magnificent Seven, a moniker for some of the top-performing tech stocks like Nvidia and Microsoft, lost over $650 billion in cumulative market capitalization during regular trading on Aug. 5.
Despite staging a slight recovery since, another potential decline in the top tech stocks could lead to lower Bitcoin (BTC) prices, according to Akshay Nassa, the founder of Chimp exchange. Nassa told Cointelegraph:
