No, Tech Stocks Aren’t Driving Crypto Prices

The favored proxy for the tech sector, the Nasdaq 100, is packed with giants in the space: Apple, Microsoft, Amazon, Meta (aka Facebook), Tesla and Alphabet (aka Google), which accounted for 43% of the index’s value as of Dec. 31. And while there are other sectors like consumer services or healthcare, even those are tech-heavy. Activision Blizzard, Electronic Arts and Netflix are categorized as “communication services,” for example.