Big Tech Q1 Beats Unmask $650B AI Capex Surge Pressuring Bitcoin

Big Tech Q1 earnings from Amazon, Microsoft, Meta, and Alphabet beat estimates but revealed a 2026 AI capex spike topping $650B—Meta hiking to $125–145B—triggering after-hours drops (Meta -6%, Microsoft -2.5%) and fears of delayed AI returns pressuring Bitcoin's risk trade. Story started April 26 previewing five mega-cap reports' impact on BTC via Nasdaq correlation (0.52 avg 2025, ~0.75 Jan 2026) and prior Microsoft selloff to $83,460. It progressed April 29 blending FOMC rate hold at 3.50%–3.75% with earnings, warning of synchronized risk-off dragging crypto lower.