Bitcoin's 14% Weekly Gain Signals 'End of an Era' as Big Tech Dumps, Analyst Says
By Krisztian Sandor
Bitcoin's (BTC) bullish momentum has spread to the broader crypto market this week as all crypto sectors booked gains, CoinDesk data shows.
BTC gained over 14% in a week, recently consolidating at around $33,700 after it hit fresh yearly highs at $35,000 but failed to break through that price level. Bitcoin's performance is roughly in line with the CoinDesk Market Index's (CMI) 14% advance.
The strongest pocket of digital assets was the CoinDesk Computing Sector (CPU) - an index that tracks protocols aiming to build and support the infrastructure of Web3 and distributed computing. CPU saw over 17% gains, driven mainly by tokens of Chainlink (LINK) and Fetch.AI (FET) .
Even the laggard decentralized finance (DCF) and digitization (DTZ) sectors were up over 7% this week, highlighting the breadth of the crypto rally.

Performance of crypto sectors (CoinDesk)
Notable best-performing cryptocurrencies include notorious meme coin pepe (PEPE) with 76% advance following a token burn, LINK rallying over 44% which benefitted from the tokenization of real-world assets trend and finance-focused Injective Protocol's native token (INJ) , adding another 58% gain to its already-impressive run following a token upgrade this August.
Crypto's 'uptober' and big tech’s demise
What has made crypto's bullish week even more significant is the dismal performance of U.S. equities, Coinbase analysts David Duong and David Han noted .
Read more: Bitcoin Catches Market Cap of Elon Musk's Tesla Amid ETF-Fueled Rally, but Traders Cautious Ahead of Fed Meeting
They pointed out that BTC moved 4.3 standard deviations higher this week compared to the previous three months, while the SP 500 and Nasdaq moved nearly 2.5 to 3.0 standard deviations lower during the same time, the Coinbase report said.
"That massive divergence partly reflects a deteriorating macro trading environment juxtaposed against bitcoin’s positive idiosyncratic story," Duong and Han wrote.

Bitcoin, SP 500 and Nasdaq Z-scores (Coinbase)
"Uptober is certainly living up to its name," Charlie Morris, founder of investment advisory firm ByteTree, said in a Friday market update .
Morris noted that the tech-heavy Nasdaq's slump amid BTC's and gold's advance signals a shift in the investment landscape away from the ever-growing, large U.S. tech giants.
"Big tech is expensive, and following underwhelming results this week, the sector no longer grows fast enough to justify premium prices," he said. "Admittedly, they had plenty of room to reduce costs, but real growth comes from sales rather than costs."
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Solo Miner Strikes Gold with 3.15 BTC Block Reward
A solo Bitcoin miner earns over $330K by successfully mining a block alone, a rare and impressive feat in crypto mining.How Solo Mining WorksWhy This Matters

Sui Partners with Dubai’s VARA to Boost Web3 Growth
Sui joins forces with Dubai’s VARA to support startups and foster Web3 innovation in the Middle East.Empowering Web3 Through Strategic PartnershipSupporting Startups and Local TalentNavigating Regulation in a Growing Industry

U.S. Cracks Down on BidenCash Dark Web Marketplace
U.S. seizes 145 dark web domains and $40K in USDT in a major crackdown on BidenCash marketplace, per Arkham.Major Strike on the Dark WebUnderstanding BidenCash’s RoleCrypto and Crime: A Complex Challenge

Best Early-Stage Crypto Presales 2025 – Altcoins With Huge Upside Potential
Discover why Nexchain is leading 2025 crypto presales with AI-powered utility, low fees, and passive income for early investors.Nexchain: A Smarter Blockchain, Built for GrowthNexchain Updates: Payments, Vesting, and TestNet Coming SoonDawgz AI ($DAGZ) – Where Memes Meet Machine Learning.Final Thoughts: Why Nexchain Leads in 2025 Presales

Trending news
MoreCrypto prices
More








