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Why Bitcoin Trades Like High-Growth Tech Stocks Despite Its Distinct Market Drivers
Bitcoin's price has increasingly moved in line with US tech equities and indexes such as the Nasdaq and S&P 500, as institutional investors treat it as a growth-style risk asset. Despite correlations as high as 0.73 with a major tech-software ETF and a 0.68 link to the Nasdaq-100 over one 90-day period, most of Bitcoin's volatility still comes from crypto-specific factors, and its multi-year returns have diverged sharply from tech benchmarks.