Over the past week, Bitcoin has started to diverge slightly from the broader market. Using BlackRock’s iShares Bitcoin Trust (IBIT) as a fifteen-day benchmark, IBIT has increased by about 3.5% and approached its monthly high on Friday.
In contrast, the iShares Expanded Tech Software ETF (IGV), gold, and U.S. stocks all declined as the week progressed. This indicates that Bitcoin is beginning to lose its strong correlation with software and the tech sector, at least in the short term.$BTC
BTC
74,099.59
+3.63%
ETH
2,334.34
+10.59%