Bitcoin Holds Steady Above $65,000 Amid Alphabet's AI Spending Plans
Bitcoin trades at approximately $65,400, reflecting a slight decline of 0.3% for the day but a 1.4% increase for the week, according to CoinDesk. The market activity comes as Alphabet raises its capital spending forecast significantly, influencing chip stocks positively despite mixed earnings results.
Bitcoin maintains its position near $65,400, showing a minor decrease of 0.3% over the day and a week-to-date increase of 1.4%. The stability in Bitcoin's price occurs in the backdrop of Alphabet's recent earnings report, which revealed a 24% revenue increase to $119.8 billion and an impressive 82% growth in its cloud services, surpassing market expectations.
Despite these positive notes, Alphabet has raised its 2026 capital spending forecast to between $195 billion and $205 billion, a hike from the previous range of $180 billion to $190 billion. This adjustment reflects a heightened focus on artificial intelligence (AI) amid supply constraints. While the company’s stock fell after hours due to concerns over increased spending versus diminishing free cash flow, the announcement has spurred upward momentum in the chip sector.
Asian chipmakers, including Samsung and SK Hynix, have benefitted, with the Kospi index climbing by 3.6% as investors anticipate increased infrastructure spending related to AI. Meanwhile, Ether trades around $1,916, XRP remains at $1.13, and Solana sits close to $77, marking mixed movement across other cryptocurrencies. As oil prices also rise, concerns about inflation continue to linger in the market. Looking ahead, the upcoming Federal Reserve meetings on July 28 and 29 may bring further developments affecting market sentiment.
Summary based on original reporting by Shaurya Malwa at CoinDesk, originally published Jul 23, 2026. SolanaWire does not republish source content.
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