Bitcoin has been going in tandem with IGV (Software)


[2021-2023], [2025-2026]
IGV -44% , -32%
BTC -77%. , -53%
1.75x downside, 1.65x downside
The market has been selling off software stocks because AI is eating the world right now. If you're not allocated to AI-related investments, you underperform, and funds have to be in the trade unless they want to see AUM bleed.
There is no doubt that AI is going to kill a ton of companies, but this sell-off could indicate fear that will do so today or in 6 months, which is not going to happen.
Unless the big software companies like MSFT, Oracle, Salesforce and Adobe are dead in the water, the bottom is near
Bitcoin is very correlated to this index, so it will find the bottom too
Or we are just trying to come up with excuses for Bitcoin's underperformance and the correlation is nothing but a coincidence...
BTC-0,9%
post-image
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Repost
  • Share
Comment
0/400
No comments
  • Pin

Trade Crypto Anywhere Anytime
qrCode
Scan to download Gate App
Community
  • 简体中文
  • English
  • Tiếng Việt
  • 繁體中文
  • Español
  • Русский
  • Français (Afrique)
  • Português (Portugal)
  • Bahasa Indonesia
  • 日本語
  • بالعربية
  • Українська
  • Português (Brasil)