Analysis: If the seven major U.S. stocks continue to fall, Bitcoin may face greater downward pressure

The sharp drop in the share prices of the "Big Seven" in the U.S. stock market may bring greater downward pressure on the price of Bitcoin. The "Big Seven" in the U.S. stock market is an alias for a number of high-performing technology stocks such as Nvidia and Microsoft. In regular trading on August 5, the cumulative market value of the stocks evaporated by more than $650 billion. Crypto industry insiders believe that another decline in the top technology stocks may cause the price of Bitcoin to fall. The correlation between stock market performance and the value of cryptocurrencies is well documented; as major technology stocks fall, investor sentiment usually turns to alternative assets, including Bitcoin. (Cointelegraph)