Tech Stocks’ Downturn Impacts Cryptocurrency Prices: Magnificent Seven Drive Market Volatility

The tech sector experienced a significant downturn, as Apple, Microsoft, and Tesla all closed in the red on May 23, 2025. This move triggered a ripple effect across cryptocurrency markets, with Bitcoin and Ethereum seeing a notable decline of 2.1% and 1.8% respectively. These tech giants’ stock movements significantly impacted crypto prices, as observed by increased trading volumes on platforms like Binance and Coinbase.