Bitcoin’s recent performance may be under threat due to a significant slowdown among some of the biggest names in tech, known collectively as the “Magnificent 7.” These tech giants have recently experienced a dramatic drop in their growth rates, which could have repercussions for Bitcoin’s price.
Tech Giants’ Growth Takes a Hit
The Magnificent 7—consisting of Apple, Microsoft, Alphabet (Google’s parent company), Amazon, Meta Platforms (formerly Facebook), and Tesla—have all seen their market values decrease substantially.·
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