The recent drop in share prices of the “magnificent seven” tech stocks, including Apple, Microsoft, Meta, Amazon, Alphabet, Nvidia, and Tesla, has raised concerns about a potential tech recession. The decline in these blue-chip tech firms has resulted in a 5-month low for the S&P 500, indicating a widespread tech selloff. However, amidst this downturn, the cryptocurrency market has been trending upward, with a 16.3% increase in market cap over the last week. Bitcoin, Ether, BNB, and XRP have all experienced notable gains. While some analysts speculate on the decoupling of Bitcoin from tech stocks, past research suggests that Bitcoin still tends to trade like a “tech stock” due to its extreme volatility. Nevertheless, Bitcoin can serve as a viable hedge against the U.S. dollar.