Why Bitcoin Is Trading Like a Tech Stock — Not Digital Gold

Positive internal factors such as ETFs and DATs fail to fully explain why capital has continued to flow out of the market since mid-last year. The correlation between Bitcoin and US software stocks offers a new perspective. Recent data highlights how private credit has come to dominate the crypto market. A Strong Correlation Between Bitcoin And US Software Stocks According to a Grayscale report, recent Bitcoin price movements have closely tracked high-growth software stocks source: https://beincrypto.com/correlation-between-bitcoin-and-software-stocks/