CoinDesk·3 min read·medium
Software stocks break away from bitcoin: What the rare divergence means for crypto
J
James Van Straten
✦AI Summary
Software stocks represented by the IGV ETF have decoupled from Bitcoin, showing a rare negative correlation as the software sector recovers from previous AI-driven volatility. While Bitcoin has struggled, software equities have rallied, prompting analysts to question if the historical tendency for these assets to move in lockstep has permanently ended.
Bitcoin and IGV traded largely in lockstep for years, but that relationship began to breakdown in May. IGV is now down only 1% in 2026, while bitcoin has fallen 29%. Their 20-day rolling correlation has also turned negative for the first time since May 2024.
businesscryptoeconomytechnology
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