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Scott Melker: Bitcoin remains steady as $800 billion exits major AI stocks
Scott Melker, owner and content creator, observes that Bitcoin has held its position in the mid-60s even as $800 billion has been wiped from major AI stocks.
He notes that while broader markets are experiencing volatility, this downturn has not significantly affected Bitcoin. According to Melker, the 'Magnificent Seven' group of AI stocks is experiencing its worst days since April 2025.
Earlier this year, Scott Melker reported that JPMorgan raised its S&P 500 year-end target to 7,800, citing strong AI-driven earnings and lower geopolitical risks in a previous article. He also covered comments from Vitalik Buterin outlining plans for a major rebuild of Ethereum that could match the impact of the Merge in another report. These developments appeared against a backdrop of sustained investor interest in both equities and digital assets.
This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.
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