Surprise,” “Secret,” “Not What It Seems,” or “Truth” might work. Maybe something like “Bitcoin Isn’t a Tech Stock-Here’s Why” but check the character count. Let me count: “Bitcoin Isn’t a Tech Stock-Here’s Why” is 37 characters. That’s way under 100. But m

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Are <a href="https://zarusd.com/btc-usd/">Bitcoin</a> And Tech Stocks Really Linked? NYDIG Says Not So Fast

Some traders noticed Bitcoin and US software stocks both rose last week, and assumed there was a connection. However, NYDIG, a Bitcoin-focused financial firm, says this similarity is likely a coincidence and shouldn’t be interpreted as a meaningful relationship.

Bitcoin’s price is largely independent of traditional stock markets. While about 25% of its price changes can be linked to movements in equities like the S&P 500 and Nasdaq, the remaining 75% is influenced by other, unrelated factors.

As an analyst, I’ve been following the correlation between Bitcoin and software stocks, and I believe the recent movements aren’t due to a fundamental connection between the two. Instead, what we’re seeing is both asset classes responding to the same wider economic forces – specifically, factors that generally influence investor appetite for risk. When investors are feeling risk-averse, both Bitcoin and software stocks tend to go down, and vice versa. It’s not about a direct link between the assets themselves, but a shared reaction to macro pressures.

According to Cipolaro, the idea that Bitcoin and software stocks are now behaving similarly is an exaggeration.

A Shared Macro Trigger, Not A Common Identity

Since Bitcoin reached a peak of over $126,000 in early October, its connection to software stocks has been growing stronger. However, analyst Cipolaro notes that Bitcoin’s relationship with broader market indexes like the S&P 500 and Nasdaq has also increased during this period.

Liquidity Sensitive Assets

This trend indicates the change isn’t limited to tech companies; it’s a broader sign of how willing investors are to take risks.

Recent data indicates that both leading cryptocurrencies and software stocks are behaving like assets that perform well when investors are confident and have plenty of cash, but struggle when economic conditions worsen. Essentially, they both tend to rise with investor optimism and fall when uncertainty increases.

The reason these two things are moving in sync isn’t a strong relationship between them, but rather their similar response to changes in the economy.

The idea that Bitcoin is like a technology stock isn’t new. It often comes up when Bitcoin and tech stocks start moving in the same direction at the same time. However, a recent analysis challenges that comparison.

Crypto’s Distinct Drivers Keep It In A Category Of Its Own

Even though Bitcoin’s price often moves with the stock market, NYDIG believes it’s fundamentally different. Unlike traditional companies, Bitcoin’s price is driven by things like how many people are using the network, how widely it’s being adopted, and changes in government regulations.

Cipolaro explained that these factors demonstrate Bitcoin can still help spread risk in an investment portfolio, even when different investments start to move in the same direction.

The report highlights a disconnect between Bitcoin’s reputation and its actual performance. While often referred to as “digital gold,” it doesn’t seem to be functioning as a safe investment during times of economic uncertainty.

Investors seem to be buying this asset based on their tolerance for risk, not because they strongly believe in its fundamental value.

Right now, Bitcoin’s price seems to move with the stock market, but according to NYDIG’s research, that’s not the whole picture. These connections aren’t strong enough to consider Bitcoin just another tech stock.

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2026-03-09 12:13