Bitcoin Holds Above $65,000 as Alphabet Raises AI Spending
Bitcoin has traded increasingly in step with AI and semiconductor shares, as both respond to shifts in investors’ risk appetite. The link has strengthened as some bitcoin miners reposition themselves as operators of AI data centers, tying their valuations more closely to infrastructure spending. Alphabet’s earnings and capital-expenditure plans therefore became a key test of whether the massive AI investment cycle could continue supporting chip stocks and crypto markets.
Bitcoin traded near $65,900 on July 22, just below a two-week high and up 1.5% for the week, before Alphabet reported results. The Google parent posted a 24% revenue increase to $119.8 billion and 82% growth in cloud sales, while lifting its 2026 capital-spending forecast to $195 billion-$205 billion from $180 billion-$190 billion. Bitcoin held near $65,400 on July 23, down 0.3% on the day but 1.4% higher for the week.
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The history behind this eventBitcoin Holds Near $64,000 as Oil, AI Risks Collide
Bitcoin has been consolidating around $64,000 as investors weigh two competing macro and technology shocks. Crude oil’s advance toward $100 a barrel has revived concerns that inflation could remain elevated and interest rates stay higher for longer, a combination that typically pressures risk assets. Meanwhile, volatility in AI chip shares has persisted following Moonshot AI’s release of its Kimi K3 model, adding another source of uncertainty for cryptocurrencies.
As of July 25, 2026, bitcoin was little changed near $64,200 after briefly slipping below $64,000 and later recovering toward $65,000. The cryptocurrency market has so far avoided a broad selloff even as oil reached a one-month high. Investors are now turning to earnings from major technology companies this week for signals on AI spending, valuations and whether the lingering chip-stock retreat could spread to other speculative assets.
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