$BTC ’s tech link is breaking. Watch closely.

115-week IGV fit:
β = 1.16
R² = 0.50

BTC is now ~2.1σ below that line.

The break:
β collapsed from ~3 to ~0
R² fell toward zero
CUSUM confirms regime change

Bitcoin is not trading like software anymore.

Steps:
1) First it traded like tech.
2) Now it looks cheap vs tech.
3) Next it reprices as its own asset.