Cheong Sees a Six-Month Crypto Tailwind From Tech Weakness

DeFiance Capital CEO Arthur Cheong said weakness in U.S. technology and artificial intelligence (AI) shares may help crypto over a six-month horizon, outlining a possible return of crypto-focused investors to digital assets. Cheong’s view describes a potential shift in investor preference: people who have focused on crypto may allocate to digital assets again while technology shares lag. It remains a forecast about possible behavior, not evidence of completed transactions. Separately, the Nasdaq-100 fell 1,017.66 points, or 3.46%, on Friday, Oct. 30, closing at 28,384.85. The close came at 4 p.m. ET (20:00 UTC). That index move is an equity-market reading.